14 February 2022, GBP/USD
GBPUSD trading plan:
The U.K. economy expanded at the fastest pace since World War II last year after suffering a milder hit than expected in December. The 7.5% expansion was the largest since 1941 and made Britain the fastest-growing advanced economy in 2021. BOE forecasts published Feb. 3 show the economy stagnating in the first quarter, but rebounding strongly in the following three months to return to its pre-Covid size. The bank has hiked rates at its two previous meetings, taking the benchmark to 0.5%, and markets are pricing in a rapid series of further moves this year. This is a positive signal for the pound.
Investment idea: buy 1.3500 and take profit 1.3550.
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