24 June 2021, GBP/USD
GBPUSD trading plan:
The U.S. Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 11.8% to $195.7 billion last quarter. That was the largest shortfall since the first quarter of 2007. The current account gap represented 3.5% of gross domestic product last quarter. That was up from 3.3% in the fourth quarter and the largest since the fourth quarter of 2008. Imports of goods jumped $39.9 billion to a record $677.0 billion in the first quarter. Vaccinations against COVID-19 and trillions of dollars in pandemic relief are allowing for a greater reopening of the economy, unleashing pent-up demand, which is being partially satiated with imports. This is a negative statistic for the dollar.
Investment idea: buy 1.3947 and take profit 1.4033.
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