04 April 2022, GBP/USD
GBPUSD trading plan:
The S&P Global/CHIPS UK Manufacturing Purchasing Managers' Index fell to 55.2 - revised down from a preliminary "flash" reading of 55.5 - from 58.0 in February. The survey's gauge of new orders sank to its lowest level since January 2021, hurt by slowing domestic demand and the sixth drop in seven months for export orders. The survey pointed to tougher times ahead for Britain's economy, with growth set to slow amid a global surge in inflation pressure, fuelled by turmoil in commodity markets following Russia's invasion of Ukraine. The survey's indicators of input costs and output prices rose in March after they had receded in previous months from record high levels, pointing to persistent inflation pressure.
Investment idea: sell 1.3139 and take profit 1.3073.
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