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UK economy is showing slightly more momentum

UK economy is showing slightly more momentum | 03 March 2023

03 March 2023, GBP/USD

UK economy is showing slightly more momentum

GBPUSD trading plan:

Britain's economy is showing slightly more momentum than expected and pay growth is proving a bit faster than the central bank forecast last month, Bank of England Chief Economist Huw Pill said. Last month the BoE forecast that Britain was likely to see a shallow but fairly long recession, lasting more than a year, as households and businesses reckoned with the after-effects of last year's surge in energy prices. "Survey indicators that have become available since the publication of the forecast have surprised to the upside, suggesting that the current momentum in economic activity may be slightly stronger than anticipated," Pill said.

Investment idea: buy 1.1942 and take profit 1.2008.

David Johnson
Analyst of «FreshForex» company
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