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Britain's economy appears to have shrunk

Britain's economy appears to have shrunk | 04 July 2019

04 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 services Purchasing Managers' Index - slipped to 50.2 in June. Britain's economy appears to have shrunk for the first time since late 2012, as worries about BREXIT were compounded by global trade tensions. Bond yields are 0.25% below the Bank of England interest rate. This factor points to the easing of monetary policy for several months. This is a negative signal for British currency!

Trading recommendation: Sell 1.2603 and take profit 1.2570.

David Johnson
Analyst of «FreshForex» company
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