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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 07 September 2021

07 September 2021, GBP/USD

GBPUSD trading plan:

UK construction companies signaled a further increase in output volumes during August. Total new work increased for the fifteenth consecutive month in August. Businesses noted a continued resumption of projects that had been delayed due to Brexit and the COVID-19 pandemic. Looking ahead, construction companies remained highly upbeat about their growth prospects over the coming 12 months. Positive sentiment was underpinned by hopes of an expected rise in new contract awards across all subsectors of construction. This was underpinned by expectations that new contracts would be brought to tender across the construction sector as markets continued to recover from the economic disruption caused by the pandemic.

Investment idea: buy 1.3815 and take profit 1.3888.

David Johnson
Analyst of «FreshForex» company
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