22 February 2021, GBP/USD
GBPUSD trading plan:
UK Retail sales fell 8.2% in January, the second worst month on record after April last year. The ONS noted that department and clothing store sales were particularly affected. “The decrease was not as large as that of the first lockdown as some stores have adapted to the current circumstances, with services such as click and collect helping to cushion the fall,” Jonathan Athow of the Office for National Statistics said. “The share of online sales soared to a record high and accounted for over a third of total spending.” The IHS Markit flash PMI survey for February beat expectations with the composite output index rebounding and showing only a fractional decline in output. “The UK economy showed welcome signs of steadying in February after the severe slump seen in January, albeit with business activity remaining sharply lower than late-last year due mainly to the ongoing national lockdown,” IHS Markit Chief Economist Chris Williamson commented.
Investment idea: range 1.3950 -1.4040.
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