GBPUSD – Flat
GBPUSD trading plan:
Britain’s economy is showing signs of stalling as high inflation hits new orders and businesses report levels of concern that normally herald a recession. S&P Global Purchasing Managers‘ Index, covering services and manufacturing firms, also showed companies raising pay and passing higher costs on to clients, a worry for the Bank of England. But its measure of new orders fell to 50.8, the lowest in over a year. Factory orders dipped below the 50.0 growth threshold to 49.6. „The economy is starting to look like it is running on empty,“ Chris Williamson, chief business economist at S&P Global Market Intelligence, said. The PMI’s business expectations index fell by 4.6 points in June, the largest monthly decline since the start of the COVID-19 pandemic, with manufacturers and service providers both reporting their lowest business optimism levels since May 2020.
Investment idea: sell 1.2293 and take profit 1.2217.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.