23 November 2023, GBP/USD
GBPUSD trading plan:
British manufacturers saw the biggest monthly fall in their orders in nearly three years this month and a drop in output was expected to extend into early 2024, a fresh survey from the Confederation of British Industry showed. A measure of output over the past three months fell more sharply than in the three months to October and it was seen remaining weak in the next three months. The factories had been struggling with weaker demand and the run-down of stocks of finished goods. This latest data will fuel concerns that the economy is slowing swiftly as the highest interest rates for 15 years take their toll on demand.
Investment idea: sell 1.2540 and take profit 1.2489.
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