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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 07 July 2020

07 July 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the United Kingdom are forcing investors to increase their long positions in the British currency. The IHS Markit/CIPS UK Construction Purchasing Managers' Index rebounded to 55.3 from 28.9 in May, it’s highest since July 2018. The all-sector PMI - which combines the services, manufacturing and construction sectors - rose to 48.3 in June from 29.9 in May. "As the first major part of the UK economy to begin a phased return to work, the strong rebound in construction activity provides hope to other sectors that have suffered through the lockdown period," Tim Moore, economics director at IHS Markit, said.

Trading recommendation: Buy 1.2470 and take profit 1.2525.

David Johnson
Analyst of «FreshForex» company
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