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Problems in the UK economy have not disappeared

Problems in the UK economy have not disappeared | 26 September 2023

26 September 2023, GBP/USD

GBPUSD trading plan:

British retailers reported a smaller annual fall in sales for September than during the previous month and expect a modest improvement in the months ahead, the Confederation of British Industry said. The CBI's September monthly retail sales survey - conducted between Aug. 25 and Sept. 13 - showed the headline balance rebound to a three-month high of -14 from August's more than two year low of -44. Last week's lower than expected inflation figures, which in turn will ease pressure on household budgets, will also give retailers some hope going into the crucial autumn and winter trading period. CBI did warn that higher oil and fuel prices could mean sticky inflation is with for a while longer.

Investment idea: sell 1.2220 and take profit 1.2151.

David Johnson
Analyst of «FreshForex» company
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