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Britain's economy contracted sharply in April

Britain's economy contracted sharply in April | 11 June 2019

11 June 2019, GBP/USD

Britain's economy contracted sharply in April

GBPUSD trading plan:

Negative macroeconomic statistics from the United Kingdom have a negative impact on the value of the British currency. Britain's economy contracted sharply in April. Annual growth slowed to 1.3%. The trade balance for goods narrowed to 12.1 billion pounds from 15.4 billion pounds in March. Investment funds increase sales of the British currency. CFTC reports show an increase in sales from big speculators. Investors are afraid of political risks. The coming to power of B. Johnson can cause the sale of the British currency.

Trading recommendation: Sell 1.2733 and take profit 1.2685.

David Johnson
Analyst of «FreshForex» company
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