Positive macroeconomic statistics from the UK | 13 May 2019

GBPUSD trading plan:

Positive macroeconomic statistics from the UK will have a positive impact on the value of the British currency. Year-on-year GDP growth picked up to an 18-month high of 1.8% in early 2019, up from 1.4% in the last three months of 2018 - investors received a pleasant surprise. Factories rushed to complete orders ahead of the original March 29 BREXIT deadline, spurring a 2.2% jump in output in the first quarter and marking the sector's biggest contribution to overall economic growth in nearly 20 years. Manufacturing and industrial production have both beat expectations - the figures for Industrial and Manufacturing production for March are 0.7% (Exp. 0.1%) and 0.9% (Exp. 0.0%) respectively. Trade deficit for the month of March has come in at 5.4bn.

Trading recommendation: Buy 1.3000 and take profit 1.3033.