24 March 2022, GBP/USD
GBPUSD trading plan:
British inflation shot up faster than expected last month to hit a new 30-year high, worsening a historic squeeze on household finances. The Office for National Statistics said consumer prices rose by 6.2% year-on-year in February after a 5.5% rise in January, its highest rate since March 1992. The ONS highlighted household energy bills - up almost 25% on a year ago - and petrol as the biggest drivers of February's price jump. The BoE will need to carefully balance the need to try and tame inflation whilst not tipping the economy into a recession.
Investment idea: sell 1.3212 and take profit 1.3140.
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