Negative macroeconomic statistics from the United States | 31 Octubre 2019

GBPUSD trading plan:

We are expecting the bullish rally in the British currency to continue. Negative macroeconomic statistics from the United States will have a positive impact on the value of the British currency. The first reading of third-quarter U.S. GDP, released earlier Wednesday, showed that the pace of economic growth slowed in the third quarter from the second, as ongoing strength in the consumer was offset by a slowdown in business investment. Final sales to domestic purchasers rose an annualized 2% after 3.6% in the previous three months. The manufacturing, which makes up 11% of the economy, has weakened further as a widely watched private gauge hit a 10-year low.

Trading recommendation: Buy 1.2900 and take profit 1.2954.

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