UK budget deficit | 25 May 2020

GBPUSD trading plan:

Negative macroeconomic statistics from the UK force investors to increase their short positions in the British currency. UK budget deficit stood at 62.1 billion pounds last month, the Office for National Statistics said Friday. The figure is equal to the total borrowing in the whole of the previous fiscal year. Central government spending surged 57% and revenue plunged 27%. The monthly deficit is the most since modern records began in 1993, and over 50 billion pounds more than April 2019. Even during the financial crisis, monthly borrowing was never more than 22 billion pounds.

Trading recommendation: Sell 1.2175 and take profit 1.2140.