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Positive statistics from the UK

Positive statistics from the UK | 02 June 2021

02 June 2021, GBP/USD

GBPUSD trading plan:

The UK PMI surged to an unprecedented high in May, as record growth of new orders and employment supported one of the steepest increases in production volumes in the near 30-year survey history. Growth is being boosted by the unlocking of economies from COVID restrictions and ongoing vaccination programs. The corollaries of this strong upsurge in industrial activity are increased strain on supply chains and a build-up of price pressures. Supply chain managers anticipate a continuing squeeze on deliveries and are forward buying and building stocks, so we may not have seen price peak yet.

Investment idea: buy 1.4140 and take profit 1.4200.

David Johnson
Analyst of «FreshForex» company
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