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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 02 August 2019

02 August 2019, GBP/USD

GBPUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the British currency. The Institute for Supply Management’s index eased to 51.2 last month from 51.7 in June. The fourth straight downturn in the overall index of factory activity, inching closer to outright contraction, is consistent with the recent trend of manufacturing weakness throughout the world. Factory index from IHS Markit came in at 50.4 on Thursday. That’s the lowest in almost a decade! U.S. manufacturing activity deteriorated in July to an almost three-year low.

Trading recommendation: Buy 1.2086 and take profit 1.2134.

David Johnson
Analyst of «FreshForex» company
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