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The UK is enjoying an unprecedented growth

The UK is enjoying an unprecedented growth | 24 May 2021

24 May 2021, GBP/USD

The UK is enjoying an unprecedented growth

GBPUSD trading plan:

Business activity across the UK private sector expanded at a rapid pace in May, according to the latest PMI data compiled by IHS Markit and CIPS. Flash UK Composite Output Index rose to 62.0 in May, from 60.7 in April, to signal the fastest rate of growth since the index was first compiled more than two decades ago. The UK is enjoying an unprecedented growth spurt as the economy reopens. Factory orders are surging at a record pace as global demand for goods continues to revive, and the service sector is reporting near-record growth as the opening up of the economy allows more businesses to trade. Business confidence has meanwhile hit an all-time high as concerns about the impact of the pandemic continue to fade.

Investment idea: buy 1.4135 and take profit 1.4206.

David Johnson
Analyst of «FreshForex» company
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