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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 20 March 2023

20 March 2023, GBP/USD

GBPUSD trading plan:

The British public's expectations for inflation have fallen, the Bank of England said in a survey it published ahead of its decision this week on whether to raise interest rates for the 11th meeting in a row. Expectations for inflation over the coming year time dropped to 3.9% from 4.8% in November while those for inflation in the following 12 months - which are closely watched by the BoE - fell to 3.0% from 3.4%. Expectations for inflation in five years' time fell to 3.0% from 3.3% in November. This is a positive signal for the British currency.

Investment idea: buy 1.2160 and take profit 1.2239.

David Johnson
Analyst of «FreshForex» company
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