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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 23 September 2022

23 September 2022, GBP/USD

GBPUSD trading plan:

The downturn in British businesses steepened this month as they battled soaring costs and faltering demand, according to a survey that hammered home the rising risk of recession. The PMI is likely to raise new questions about the health of Britain's economy, after consumer confidence fell this month to the lowest level since records began in 1974. UK economic woes deepened in September as falling business activity indicates that the economy is likely in recession. The PMI's gauge of future output fell to its lowest since May 2020, when Britain was in the grip of its first COVID-19 lockdown.

Investment idea: sell 1.1185 and take profit 1.1120.

David Johnson
Analyst of «FreshForex» company
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