Positive macroeconomic statistics from the UK | 21 April 2021

21 April 2021, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

British consumer price inflation rose to 0.7% in March from 0.4% in February, reflecting higher fuel and clothing prices, official figures showed. British inflation is forecast to rise sharply in the coming months, due to an increase in regulated household energy bills in April, higher global oil prices and comparisons with prices a year ago when COVID lockdowns caused demand to slump. The Bank of England forecast in February that inflation would reach 1.9% by the end of 2021, but many traders now expect it will exceed its 2% target before then.

Investment idea: buy 1.3920 and take profit 1.4005.

David Johnson
Analyst of «FreshForex» company
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