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Britain's economy was losing momentum

Britain's economy was losing momentum | 25 Januari 2023

25 Januari 2023, GBP/USD

Britain's economy was losing momentum

GBPUSD trading plan:

British private-sector economic activity fell at its fastest rate in two years in January, a survey showed, as businesses blamed higher Bank of England interest rates, strikes and weak consumer demand for the slowdown. The S&P Global/CIPS flash composite Purchasing Managers' Index dropped to 47.8 from 49.0 in December, at the bottom end of economists' forecasts in a Reuters poll and the lowest since January 2021. Financial markets expect the central bank to raise British rates to 4% from 3.5% next week to tackle double-digit inflation, and to a peak of around 4.5% later this year.

Investment idea: range 1.2285 -1.2385.

David Johnson
Analyst of «FreshForex» company
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