23 August 2023, GBP/USD
GBPUSD trading plan:
British manufacturing output dropped over the three months to August by the most in almost three years, according to an industry survey that pointed to a further drop in new orders. The Confederation of British Industry's net balance of output for the three months to August fell to -19 from +3 in July, the lowest reading since September 2020. The net balance shows the difference between the share of factories reporting rising output against those seeing a fall. Output dropped in 15 out of 17 manufacturing sub-sectors, with the car industry and mechanical engineering among the worst performers.
Investment idea: sell 1.2700 and take profit 1.2630.
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