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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 03 July 2019

03 July 2019, GBP/USD

GBPUSD trading plan:

Negative macroeconomic statistics from the UK will have a negative impact on the value of the British currency. The Markit construction Purchasing Managers' Index plunged to 43.1, the lowest reading since April 2009. Bank of England data meanwhile revealed the slowest growth in five years in borrowing by consumers. The yield on 10-year British government bonds sank to its lowest level in nearly three years. The Bank of England may reduce interest rates. Investment funds increase their short positions on the British currency!

Trading recommendation: Sell 1.2620 and take profit 1.2570.

David Johnson
Analyst of «FreshForex» company
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