11 March 2022, GBP/USD
GBPUSD trading plan:
British consumers spent the most since Christmas on their credit and debit cards earlier this month, due to the soaring cost of fuel and increased spending on food and other utilities. Spending in the week to March 3 jumped by 10 percentage points from the week before to 102% of its average level in February 2020, just before the COVID-19 pandemic hit Britain, according to the Bank of England's payment data. Spending in the week to March 3 rose by 14 percentage points for staple goods such as food and utilities, 6 percentage points for 'delayable' goods such as clothes and furniture, and 5 percentage points for social spending. The Bank of England forecast British inflation would exceed 7% in April when regulated energy prices are due to rise by more than 50%.
Investment idea: sell 1.3103 and take profit 1.3048.
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