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The negative signal for the British currency

The negative signal for the British currency | 07 October 2019

07 October 2019, GBP/USD

The negative signal for the British currency

GBPUSD trading plan:

British business activity wilted in the third quarter, especially in manufacturing, according that boded poorly for the country's economy in late 2019 as it faces the BREXIT crisis and a global slowdown. The British Chambers of Commerce's survey of 6,600 companies showed domestic manufacturing sales fell at the fastest pace since late 2011. Expectations for profits declined particularly sharply in the manufacturing sector, falling to their lowest level since late 2011. This is a negative signal for the British currency!

Trading recommendation: Sell 1.2336 and take profit 1.2275.

TRADE METALS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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