28 September 2022, GBP/USD
GBPUSD trading plan:
The climb in prices charged by shops and supermarkets in Britain accelerated again in the 12 months to September, hitting its highest since records began in 2005, the British Retail Consortium said. Market research firm NielsenIQ, which co-produces the data, said 76% of consumers expected to be moderately or severely affected by the cost-of-living crisis over the next three months, up from 57% in the summer. "So households will be looking for savings to help manage their personal finances this autumn and we expect shoppers to become more cautious about discretionary spend, adding to pressure in the retail sector," Mike Watkins, NielsenIQ's head of retailer and business insight, said. Britain's consumer price index, which measures a broader range of prices than the BRC's data, hit a 40-year high of 10.1% in July before easing back to 9.9% in August.
Investment idea: sell 1.0700 and take profit 1.0630.
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