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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 20 August 2021

20 August 2021, GBP/USD

GBPUSD trading plan:

British retail sales unexpectedly fell in July, official data showed. Retail sales volumes dropped by 2.5% in July from June, the ONS said. An ONS official said there had been no feedback from retailers that worries about rising coronavirus cases were behind the drop in sales. Food store sales were down by 1.5% while non-food stories reported a fall of 4.4%. Sales were still 5.8% above their pre-coronavirus pandemic levels in February 2020, the ONS said. An opinion poll published earlier by market research firm GfK showed consumer confidence dipped only slightly from its highest level since before the pandemic.

Investment idea: range 1.3590 -1.3680.

David Johnson
Analyst of «FreshForex» company
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