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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 02 September 2020

02 September 2020, GBP/USD

GBPUSD trading plan:

Positive macroeconomic statistics from the United States will negatively affect the value of the British currency. The ISM said its index of national factory activity increased to a reading of 56.0 last month from 54.2 in July. That was the highest level since November 2018 and marked three straight months of growth. A reading above 50 indicates expansion in manufacturing, which accounts for 11% of the U.S. economy. Fifteen industries including wood, primary metals and computer and electronic products reported growth in August. Printing and related support activities, petroleum and coal, and furniture and related products contracted.

Trading recommendation: Sell 1.3385 and take profit 1.3344.

David Johnson
Analyst of «FreshForex» company
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