Positive macroeconomic statistics from the UK | 19 May 2021
19 May 2021, GBP/USD
GBPUSD trading plan:
The UK Consumer Prices Index including owner occupiers’ housing costs rose by 1.6% in the 12 months to April 2021, up from 1.0% growth to March. The largest upward contributions to the CPIH 12-month inflation rate came from housing and household services (0.57 percentage points), and transport (0.56 percentage points). As a result of the easing of COVID-19 restrictions, the number of CPI items identified as unavailable in April 2021 fell to 28, accounting for 3.1% of the basket by weight. This is a positive macroeconomic statistic for the British currency.
Investment idea: buy 1.4160 and take profit 1.4230.
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