20 July 2022, GBP/USD
GBPUSD trading plan:
Britain's unemployment rate held at 3.8% in the three months to May and the number of people in work rose by the most since the middle of 2021, suggesting the cost-of-living squeeze has not yet hit demand for staff, official figures showed. Data showed an increase of 296,000 in the number of people in employment, the biggest increase since the three months to August last year. While the number of people in work remains below its level just before the COVID-19 pandemic, the number of people in full-time employment hit a record high in contrast to the number of self-employed people, which remains lower. The signs of continued strong hiring may bolster the confidence of the Bank of England about raising interest rates further next month. But there was no clear sign in the data that might ring alarm bells at the central bank and prompt it to raise rates by more than its usual quarter percentage-point increases.
Investment idea: buy 1.1970 and take profit 1.2025.
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