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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 27 January 2023

27 January 2023, GBP/USD

GBPUSD trading plan:

British retail sales volumes slid over the last month at the fastest rate since April last year, underlining the weak state of the consumer economy in the face of strong inflation, a survey showed. The Confederation of British Industry's sales balance, which included a couple of days of the Christmas trading period, fell to -23 from +11 in December's report, meaning more store chains reported a drop in retail sales than a rise. Retailers began the new year with a return to falling sales volumes, as the sector continues to face the twin headwinds of rising costs and squeezed household incomes.

Investment idea: sell 1.2480 and take profit 1.2400.

David Johnson
Analyst of «FreshForex» company
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