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Positive macroeconomic statistics of the UK

Positive macroeconomic statistics of the UK | 18 August 2021

18 August 2021, GBP/USD

Positive macroeconomic statistics of the UK

GBPUSD trading plan:

British inflation fell back to the Bank of England's 2% target last month in an unexpectedly sharp drop, official data showed, with the clothing and recreation and culture sectors dragging the rate of price growth lower. Output costs rose more quickly than in June increasing by 4.9% compared with July last year. Input costs also rose by more than expected, jumping by almost 10%. Earlier this month the BoE said it expected inflation to jump to 4.0% around the end of the year, which would be a decade high. But the BoE said it still thought the jump in inflation would prove to be temporary.

Investment idea: buy 1.3732 and take profit 1.3810.

David Johnson
Analyst of «FreshForex» company
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