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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 21 April 2020

21 April 2020, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

Negative macroeconomic statistics from the United Kingdom will have a negative impact on the value of the British currency. One in three British households has already suffered a drop in income due to the coronavirus crisis. The figures in IHS Markit's Household Finance Index were collected from April 2-5, two weeks after Britain went into lockdown to slow the spread of COVID-19, and they added to signs that Britain's economy is shrinking fast. This is a negative signal for economic growth. Additional pressure on the pound will have a bearish rally in the oil market.

Trading recommendation: Sell 1.2420 and take profit 1.2385.

David Johnson
Analyst of «FreshForex» company
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