Strong macroeconomic statistics from the UK | 26 April 2021

26 April 2021, GBP/USD

Strong macroeconomic statistics from the UK

GBPUSD trading plan:

Strong macroeconomic statistics from the UK will have a positive impact on the value of the British currency. April PMI data compiled by IHS Markit and CIPS illustrated a strong revival in UK private sector output after the downturn seen at the start of 2021 during the full national lockdown. Moreover, for the first time since the COVID-19 pandemic began, service activity growth outperformed manufacturing production. This was largely due to a boost from easing government stringency measures regarding some consumer services. Manufacturing sector business conditions strengthened again in April, led by the steepest rise in new orders since November 2013.

Investment idea: buy 1.3875 and take profit 1.3948.

David Johnson
Analyst of «FreshForex» company
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