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The low consumer confidence

The low consumer confidence | 09 June 2022

09 June 2022, GBP/USD

GBPUSD trading plan:

Construction of new homes in Britain almost ground to a halt last month as builders feared the cost-of-living squeeze and rising interest rates would constrain demand, a closely watched survey showed. May's S&P Global/CIPS construction Purchasing Managers' Index fell to 56.4 in May from 58.2 in April, the lowest reading since January and broadly in line with economists' median. The fall was led by a slump in the house-building component to its lowest since May 2020 at 50.7. Bolstered by surging house prices, Britain's construction industry weathered the pandemic relatively well. Output in March was 3.7% above its pre-COVID level, a better performance than most other sectors.

Investment idea: range 1.2475 - 1.2570.

David Johnson
Analyst of «FreshForex» company
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