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UK Businesses Signal Optimism

UK Businesses Signal Optimism | 10 February 2023

10 February 2023, GBP/USD

UK Businesses Signal Optimism

GBPUSD trading plan:

The Office for National Statistics showed the UK economy grew slightly in two of the final three months of 2022, meaning a recession probably won’t start until this year at the earliest. While the UK still is projected to have the worst and longest slump of any Group of Seven nation, there’s signs the downturn may be less protracted than feared. Make UK’s survey this week showed that manufacturers’ investment plans have held up in recent months, with executives planning to pump money into new products and energy efficiency. More than two-thirds of factories are pumping investment into product development and training staff, while over half are spending to boost energy efficiency.

Investment idea: buy 1.2088 and take profit 1.2150.

David Johnson
Analyst of «FreshForex» company
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