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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 24 Juli 2020

24 Juli 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the UK will have a positive impact on the value of the pound. The Confederation of British Industry's monthly order book balance rose to -46 in July from -58 in June. This was its highest reading since March. The CBI said manufacturers' expectations for domestic orders over the next three months were the highest since January 2018, though they predicted overseas demand would stay below average. "There are tentative signs of gradual recovery on the horizon, with firms expecting output and orders to begin to pick up in the next three months. But demand still remains deeply depressed," CBI chief economist Rain Newton-Smith said.

Trading recommendation: Buy 1.2717 and take profit 1.2750.

David Johnson
Analyst of «FreshForex» company
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