Negative macroeconomic statistics from the UK | 13 May 2022

GBPUSD trading plan:

Britain's economy unexpectedly shrank in March, marking a weak end to the first quarter of a year when the risk of recession is looming and increasing pressure on the government to offer more support to inflation-hit households. Gross domestic product fell 0.1% from February, hurt by a slump in car sales due to supply-chain problems, the Office for National Statistics said. Last week, the central bank forecast inflation will surpass 10% in the final quarter of 2022, up from 7% in March, already more than three times its 2% target. The International Monetary Fund predicts Britain will see the weakest growth and highest inflation among major advanced economies next year.

Investment idea: sell 1.2234 and take profit 1.2165.