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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 10 August 2020

10 August 2020, GBP/USD

Positive macroeconomic statistics from the United States

GBPUSD trading plan:

Positive macroeconomic statistics from the United States will have a negative impact on the value of the British currency. Nonfarm payrolls rose by 1.763 million, according to the Bureau of Labor Statistics, down from a revised 4.791 million in the month through mid-June. The unemployment rate fell to 10.2% of the working population, from 11.1% in June. That's below a consensus forecast of 10.5%.This factor indicates a recovery in economic growth. A bearish rally in the gold market will negatively affect the value of the British currency, as assets correlate with each other.

Trading recommendation: Sell 1.3090 and take profit 1.3045.

David Johnson
Analyst of «FreshForex» company
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