Negative macroeconomic statistics from the UK | 10 September 2019

10 September 2019, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

We are expecting a bearish rally on the British currency in the European trading session. A fresh UK labor market report will disappoint traders with negative data. Business activity indices in industry, services and construction are declining. This is factor will have a negative impact on the value of the pound sterling. A bullish rally in the oil market will support the British currency. Investors are increasing their long positions in oil amid a decline in hydrocarbon production in North America.

Trading recommendation: Sell 1.2349 and take profit 1.2300.

David Johnson
Analyst of «FreshForex» company
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