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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 10 July 2019

10 July 2019, GBP/USD

Negative macroeconomic statistics from the UK

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.

David Johnson
Analyst of «FreshForex» company
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