Positive macroeconomic statistics from the UK | 04 March 2021

04 March 2021, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

British economic output stabilised in February after a sharp fall the month before, as many businesses continued to suffer from lockdown restrictions affecting hospitality and other face-to-face services, a closely watched survey. The IHS Markit/CIPS composite Purchasing Managers' Index gave a reading of 49.6 for February, up from an eight-month low of 41.2 in January. The PMI for the services sector alone rose to a four-month high of 49.5 in February from January's eight-month low of 39.5. "Restrictions on travel, leisure and hospitality due to the national lockdown continued to curtail overall activity, but there were some pockets of growth in technology and business services," IHS Markit said.

Investment idea: buy 1.3949 and take profit 1.4005.

David Johnson
Analyst of «FreshForex» company
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