Negative macroeconomic statistics from the UK | 10 Juli 2019
10 Juli 2019, GBP/USD
GBPUSD trading plan:
We're expecting negative macroeconomic statistics from the UK on industrial production. Manufacturing PMI fell below 50%. The negative trend has been observed for the last two months. This factor indicates a decline in industrial production. The decline in industrial production always signals a decline in GDP. The Bank of England can reduce interest rates within two to three months. This is a negative signal for the British currency! We're expecting testing of the minimum for the last two years (1.2426).
Trading recommendation: Sell 1.2476 and take profit 1.2426.
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.
