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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 21 February 2022

21 February 2022, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

British retail sales volumes in January were 1.9% higher than in December and 9.1% above their level a year earlier, when non-essential shops were closed due to a COVID-19 lockdown, the Office for National Statistics said. This is a positive signal for the British currency! Non-food stores as a whole saw monthly sales volumes rise by 3.4% in January 2022 but were still 1.1% below their pre-coronavirus levels of February 2020. Household goods stores sales volumes rose by 7.5% in January 2022 because of strong growth in furniture and lighting stores (16.6%) and electrical goods stores (16.0%). Sales volumes were 3.8% above their February 2020 levels. Department stores reported a monthly increase of 7.1% in sales volumes but remained 8.0% below their February 2020 levels.

Investment idea: buy 1.3580 and take profit 1.3637.

David Johnson
Analyst of «FreshForex» company
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