16 March 2022, GBP/USD
GBPUSD trading plan:
Britain's lowest-paid workers have seen the biggest squeeze on their pay over the past 12 months, according to figures, which suggest the cost-of-living crisis is likely to prove even more painful. British consumer price inflation hit a nearly 30-year high of 5.5% in January and is forecast by traders to reach 8% in April, boosted by a 50% rise in household regulated energy tariffs. Britain's main minimum wage rate of 8.91 pounds an hour is due to rise 6.6% to 9.50 pounds an hour on April 1. But most workers will also face a higher tax burden from increased social security charges which take effect at the same time.
Investment idea: sell 1.3063 and take profit 1.3007.
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