Negative macroeconomic statistics from the UK | 14 Januari 2020
14 Januari 2020, GBP/USD
GBPUSD trading plan:
We are expecting a downtrend to develop. Negative macroeconomic statistics will force investors to increase short positions on the British currency. Manufacturing output fell 1.7% in November, partly reflecting car factories shutting down to avoid supply disruptions around the now-postponed Oct. 31 Brexit deadline. Bank of England Governor mark Carney admits the possibility of lowering interest rates in a few months. The decline in industrial production signals a negative trend in the British economy. This is a bad signal for the pound!
Trading recommendation: Sell 1.3004 and take profit 1.2975.
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.
