GBPUSD – Flat
GBPUSD trading plan:
Growth in Britain’s construction industry slowed to a crawl in November as high borrowing costs and the gloomy economic outlook crimped building work, a fresh survey showed. The S&P Global/CIPS UK Construction Purchasing Managers‘ Index fell to a three-month low of 50.4 from 53.2 in October. The house building sector stagnated, while civil engineering activity deteriorated. The survey’s gauge of future activity sank to its lowest level since the onset of the COVID-19 pandemic, consistent with recession. With demand fading from the economy, various measures of price pressures from consumers and businesses have started to ease.
Investment idea: sell 1.2140 and take profit 1.2090.
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