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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 06 January 2020

06 January 2020, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

Good and bad news for the British currency. The IHS Markit UK Construction Purchasing Managers' Index fell to 44.4 from 45.3 in November. The downturn in Britain's construction industry deepened in December, driven by the sharpest drop in civil engineering activity since 2009. This is a negative signal for the pound sterling. A bullish rally in the oil market may support the British currency. U.S. air strike killed key Iranian and Iraqi military personnel escalated Middle East tensions and raised concerns of oil supplies disruption, supporting oil markets.

Trading recommendation: range 1.3045 -1.3115.

David Johnson
Analyst of «FreshForex» company
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