20 January 2022, GBP/USD
GBPUSD trading plan:
Inflation in Britain rose faster than expected to its highest in nearly 30 years in December. The annual rate of consumer price inflation increased to 5.4% from November's 5.1%, the highest since March 1992, the Office for National Statistics said. Financial markets now price in a more than 90% chance that the BoE will raise its main interest rate to 0.5% on Feb. 3. Last month it became the world's first major central bank to tighten policy since the start of the COVID-19 pandemic. Bank of England Governor Andrew Bailey said on Wednesday that he was concerned inflation pressures might prove longer-lasting than previously forecast, citing surging energy costs and signs that cost pressures are feeding into wage demands.
Investment idea: buy 1.3600 and take profit 1.3661.
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