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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 06 Juli 2020

06 Juli 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the UK force investors to increase their long positions in the British currency. The IHS Markit/CIPS UK Services Purchasing Managers' Index rose to 47.1 from 29.0 in May. The survey showed 33% of services businesses, which account for the vast bulk of Britain's economy, reported a drop in activity, down from 54% in May, while 28% reported a rise. "Encouragingly, more than one-in-four service providers reported an expansion of new business during June, which was commonly attributed to pent-up demand and the phased restart of the UK economy," said Tim Moore, economics director at IHS Markit.

Trading recommendation: Buy 1.2470 and take profit 1.2515.

David Johnson
Analyst of «FreshForex» company
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