25 May 2022, GBP/USD
GBPUSD trading plan:
S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to a reading of 53.8 this month from 56.0 in April. That growth space, which was the slowest in four months, was attributed to "elevated inflationary pressures, a further deterioration in supplier delivery times and weaker demand growth." A reading above 50 indicates expansion in the private sector. The index remains consistent with strong economic growth halfway through the second quarter. The economy contracted in the first quarter under the weight of a record trade deficit, although domestic demand remained solid as households increased spending and businesses ramped up investment in equipment. Companies report that demand is coming under pressure from concerns over the cost of living, higher interest rates and a broader economic slowdown.
Investment idea: buy 1.2545 and take profit 1.2470.
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