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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 28 April 2022

28 April 2022, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

British retail sales slumped in April with the first year-on-year fall in volumes in 13 months, reflecting a cost-of-living squeeze and changed spending patterns, figures from the Confederation of British Industry showed. The data compares sales with April 2021 when many non-essential shops had a surge in sales as they reopened after COVID restrictions, while other venues such as pubs and restaurants remained closed. Pay is not keeping up. Employers offered an average 4% annual pay rise this month, and consumer confidence is its lowest since the 2008 financial crisis.

Investment idea: sell 1.2600 and take profit 1.2520.

David Johnson
Analyst of «FreshForex» company
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