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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 25 November 2022

25 November 2022, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

British industrial orders weakened a little in November and manufacturers were gloomy about the outlook for the coming months, a fresh survey showed. The Confederation of British Industry's monthly order books balance fell to -5 from -4 in October, although it was still above the long-run average of -13. The survey's gauge of output struck a five-month high, driven by supply chain improvements, but on balance factories surveyed expected output to weaken in the coming three months. "This leaves big question marks hanging over the competitiveness of UK manufacturing," Anna Leach, CBI deputy chief economist, said.

Investment idea: sell 1.2155 and take profit 1.2088.

David Johnson
Analyst of «FreshForex» company
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