Negative macroeconomic statistics from the UK | 19 Septiembre 2022

GBPUSD trading plan:

British retail sales fell much more than expected in August, in another sign that the economy is sliding into recession as the cost-of-living crunch squeezes households' disposable spending. Retail sales volumes dropped by 1.6% in monthly terms in August, the Office for National Statistics said - the biggest fall since December 2021. All of the main retail sectors - food stores, non-food stores, non-store retailing and fuel - fell over the month for the first time since July 2021, when COVID-19 restrictions on hospitality were lifted, the ONS said. Feedback from retailers suggests that consumers are cutting back on spending because of increased prices and affordability concerns.

Investment idea: sell 1.1429 and take profit 1.1340.