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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 07 August 2023

07 August 2023, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Britain's construction sector returned to growth in July but house-builders suffered another sharp contraction due to higher interest rates and fears about the outlook for the economy, a fresh survey showed. The S&P Global/CIPS construction Purchasing Managers' Index recovered to 51.7, its highest level since February and up from June's five-month low of 48.9. A sub-index measuring the house-building sector picked up to 43.0 from June's 39.6 - the lowest since Britain's economy was stuck in its first coronavirus lockdown in May 2020 - but still a long way below the 50.0 no-change level.

Investment idea: buy 1.2700 and take profit 1.2750.

David Johnson
Analyst of «FreshForex» company
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