Negative macroeconomic statistics from the UK | 03 سبتمبر 2019
03 سبتمبر 2019, GBP/USD
GBPUSD trading plan:
Negative macroeconomic statistics from the UK signals a sell-off of the British currency. The IHS Markit UK Manufacturing Purchasing Managers' Index fell to 47.4 from 48.0 in July. The index fell to its lowest level since records started in 2012. Activity across manufacturing declined, with production in the consumer goods industry dropping at the fastest rate since February 2009. The Bank of England may cut interest rates on September 19. Lower interest rates have traditionally contributed to the outflow of capital from British assets.
Trading recommendation: Sell 1.2065 and take profit 1.2029.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
