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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 28 March 2022

28 March 2022, GBP/USD

GBPUSD trading plan:

UK retail sales volumes unexpectedly fell by 0.3% in February from January. Excluding automotive fuel, which rose in price in February as tensions between Russia and EU escalated, sales volumes fell by a sharper 0.7%. Some of the fall was linked by the Office for National Statistics to stormy weather which kept some shoppers at home while the fading of the Omicron COVID-19 meant people returned to pubs and restaurants at expense of grocery retailers. GfK's gauge of personal finances for the coming year slumped to a joint record low, matched only by the reading in July 2008 when the global financial crisis was reaching a climax.

Investment idea: sell 1.3180 and take profit 1.3110.

David Johnson
Analyst of «FreshForex» company
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