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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 18 February 2020

18 February 2020, GBP/USD

GBPUSD trading plan:

Positive macroeconomic statistics from the UK will have a positive impact on the value of the pound. The IHS Markit Household Finance Index jumped to 47.6 in February from 44.6 in January, the highest index reading since the survey began 11 years ago. The BoE last month decided not to cut interest rates as it saw early signs of a recovery in the economy after a slowdown in late 2019. This is a positive signal for the credit market! The IHS Markit survey showed households expected a further slowing of inflation and a pick-up in house prices while worries about job security eased.

Trading recommendation: Buy 1.2988 and take profit 1.3040.

David Johnson
Analyst of «FreshForex» company
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