The UK economy seems to narrowly avoid a negative GDP growth in Q1 as well as the February print showed +0.1% on a 3M/3M basis at same time as the data from January was revised higher.
Our Analysis:
While the price is below 1.1200, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.1150
Take Profit 1: 1.1075
Take Profit 2: 1.1000
Alternative scenario:
If the level of 1.1200 is broken-out, follow the recommendations below:
It appears highly likely that a recession will occur this year, given that the nation's real gross domestic product grew at an annual rate of merely 1.1% during the first quarter, a drop from 2.6% in the previous period.
Our Analysis:
As long as the price is above 290.00, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 294.96
Take Profit 1: 299.00
Take Profit 2: 305.00
Alternative scenario:
If the level of 290.00 is broken-down, follow the recommendations below:
Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.
