16 August 2021, GBP/USD
GBPUSD trading plan:
U.S. consumer sentiment dropped sharply in early August to its lowest level in a decade. The University of Michigan said its preliminary consumer sentiment index fell to 70.2 in the first half of this month from a final reading of 81.2 in July. The losses were widespread across income, age, and education subgroups and spanned all regions. COVID-19 cases have doubled in the past two weeks to reach a six-month peak as the more transmissible Delta variant spreads rapidly across the country. Labor shortages across the service sector also persist while supply chain disruptions have continued. The survey's gauge of current economic conditions also declined to a reading of 77.9 from 84.5 in July while its measure of consumer expectations slid to 65.2 from 79.0 in July.
Investment idea: buy 1.3825 and take profit 1.3900.
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