19 October 2021, GBP/USD
GBPUSD trading plan:
Production at U.S. factories fell by the most in seven months in September as an ongoing global shortage of semiconductors depressed motor vehicle output. Manufacturing output dropped 0.7% last month, the largest decline since February. Data for August was revised down to show production falling 0.4% instead of rising 0.2% as previously reported. Spending shifted to goods from services over the course of the pandemic, straining supply chains. The rotation back to services, such as travel and dining out, has been slowed by resurgence in coronavirus infections over the summer, driven by the Delta variant. Supply issues limiting production will likely continue to limit consumption of autos, with latest industry guidance suggesting shortages could last well into 2022.
Investment idea: buy 1.3744 and take profit 1.3815.
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