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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 24 August 2020

24 August 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the UK signal the continuation of the uptrend. British retail sales surged past their pre-coronavirus level in July, the first full month. Retail sales volumes rose by 3.6% from June and were 1.4% higher than in July 2019, the Office for National Statistics said. Britain's retail sector has enjoyed a much faster bounce back than almost all other parts of the economy hit by the COVID-19 lockdown. Supermarkets and other food shops have benefited as British people eat at home more. Online sales have boomed, and household goods stores have seen strong demand.

Trading recommendation: Buy 1.3080 and take profit 1.3140.

David Johnson
Analyst of «FreshForex» company
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