17 Agustus 2020, GBP/USD
GBPUSD trading plan:
Positive macroeconomic statistics from the United States will have a positive impact on the value of the dollar. The Federal Reserve said that manufacturing production rose 3.4% last month after advancing 7.4% in June. The third straight monthly gain left factory output about 8% below its level in February. Motor vehicles and parts production increased 28.3% in July after accelerating 118.3% in June. There were also increases in machinery, computer and electronic products, and electrical equipment, appliances and components. The rise in manufacturing output, together with a 3.3% increase in utilities and a 0.8% gain in mining, lifted industrial production 3.0% in July. That followed a 5.7% increase in June.
Trading recommendation: Sell 1.3120 and take profit 1.3070.
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