12 September 2022, GBP/USD
GBPUSD trading plan:
The Bank of England has received a short-term boost in its fight against inflation from Prime Minister Liz Truss's huge power bill bailout, but it still looks set to raise interest rates sharply later this month. The BOE's policy decision got pushed back to Sept. 22 from Sept. 15, due to the national mourning after the death of Queen Elizabeth, but economists said they did not expect the week-long delay to change the policy outlook. New finance minister Kwasi Kwarteng and BoE Governor Andrew Bailey will meet regularly, initially twice a week, to coordinate economic support, the Treasury said. As well raising rates, the BoE is about to start selling down the stockpile of British government bonds that it began racking up after the global financial crisis of 2007-08.
Investment idea: sell 1.1725 and take profit 1.1660.
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