Positive macroeconomic statistics from the UK | 29 Julio 2020
29 Julio 2020, GBP/USD
GBPUSD trading plan:
Positive macroeconomic statistics from the UK force investors to increase their long positions in the British currency. The Confederation of British Industry's monthly retail sales balance rose to +4 from -37 in June, it’s highest since April 2019 but still signaling only modest year-on-year growth in sales. The more of the economy reopened following the covid-19 lockdown. "It's great to see retail sales stabilize this month, but this doesn't tell the whole story," said CBI chief economist Rain Newton-Smith.
Trading recommendation: Buy 1.2911 and take profit 1.2955.
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.
