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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 27 May 2022

27 May 2022, GBP/USD

GBPUSD trading plan:

Confidence is draining away from the services firms that dominate Britain's economy, especially in consumer-facing companies which are most exposed to the worsening cost-of-living crunch, a survey showed. The Confederation of British Industry's quarterly survey of services companies showed declining expectations for business activity over the coming months, and mixed news over inflation pressure. Consumer services companies reported that growth was at a standstill and expected it to fall in the coming quarter, while business and professional services had experienced growth, but expected that to cease.

Investment idea: sell 1.2653 and take profit 1.2577.

David Johnson
Analyst of «FreshForex» company
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