Positive macroeconomic statistics from the UK | 31 10月 2022

31 10月 2022, GBP/USD

GBPUSD trading plan:

The CBI’s reported sales balance for the month rose to +18 from -20 in September. The balance is the weighted difference between the percentage of retailers reporting an increase and those reporting a decrease. Confederation of British Industry principal economist Martin Sartorius said: "Retail sales volumes recovered to grow at a firm pace this month, but retailers continue to face a challenging operating environment due to rising costs, higher interest rates, and labour shortages. "The Government must continue in its efforts to re-establish macroeconomic stability and restore business confidence. Delivering comprehensive reform on business rates and the Apprenticeship Levy would be helpful first steps to encourage business investment through these difficult times."

Investment idea: buy 1.1510 and take profit 1.1580.

David Johnson
Analyst of «FreshForex» company
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