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The recession?

The recession? | 13 December 2022

13 December 2022, GBP/USD

The recession?

GBPUSD trading plan:

Britain's economy rebounded in October a little more strongly than expected from September when output was affected by a one-off public holiday to mark the funeral of Queen Elizabeth, but a recession remained on the cards, official data showed. The figures are unlikely to change the view among investors and analysts that Britain's economy faces a bleak 2023. British financial markets showed no reaction to the figures. The Bank of England - which looks set to raise interest rates for a ninth meeting in a row on Thursday to contain the risks from an inflation rate above 11% - said last month that Britain's economy looked set for a two-year recession if interest rates rose as much as investors had been pricing.

Investment idea: sell 1.2315 and take profit 1.2265.

David Johnson
Analyst of «FreshForex» company
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