Negative macroeconomic statistics from the United Kingdom | 06 November 2019

GBPUSD trading plan:

Negative macroeconomic statistics from the United Kingdom will have a positive impact on the value of the British currency. The IHS Markit services Purchasing Managers' Index edged up to 50.0. Britain's economy has lost momentum this year, hurt by a global downturn due to the U.S.-China trade war as well as increased BRIXIT uncertainty. The Confederation of British Industry's gauge of optimism for small and medium-sized manufacturers fell to -32 in the three months to the end of October, down from -28 in the three months to July. The CBI's survey showed almost two-thirds of the 240 companies which took part cited political or economic conditions abroad as likely to limit export orders, a survey record high.

Trading recommendation: Sell 1.2890 and take profit 1.2850.

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