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Negative statistics from the UK

Negative statistics from the UK | 23 October 2023

23 October 2023, GBP/USD

GBPUSD trading plan:

British retail sales volumes fell by a sharper than expected 0.9% in September compared with the month before, figures from the Office for National Statistics showed. Compared with a year ago, sales volumes were down 1.0%, while sales in the third quarter overall - which had a weak start due to unusually wet weather in July - were 0.8% lower than in the quarter before. While retail sales volumes surged in mid-2021 when shops fully reopened in Britain after COVID-19 restrictions, purchases have steadily fallen since and for the past year sales volumes have been below pre-pandemic levels.

Investment idea: sell 1.2180 and take profit 1.2070.

David Johnson
Analyst of «FreshForex» company
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