GBPUSD – Flat
GBPUSD trading plan:
U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses liquidating inventories in anticipation of weaker demand later this year amid higher borrowing costs. Gross domestic product increased at a 1.1% annualized rate last quarter, the government said in its advance estimate of first-quarter GDP growth. Residential investment recorded its eighth consecutive quarterly drop though the pace of decline slowed considerably from the October-December period. Government spending picked up, while a smaller trade deficit contributed to GDP growth for the fourth quarter in a row.
Investment idea: buy 1.2426 and take profit 1.2523.
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