17 May 2022, GBP/USD
GBPUSD trading plan:
Bank of England Governor Andrew Bailey said that the current surge in inflation was the central bank's biggest challenge since it gained independence in 1997, but denied that policymakers had been "asleep at the wheel". Bailey has been criticised for failing to act sooner on inflation by some lawmakers from the ruling Conservative Party, which is under public and political pressure over a cost-of-living crisis. The BoE earlier this month warned that Britain risks a double-whammy of inflation above 10% later this year and possibly a recession. It raised interest rates to their highest since 2009, hiking by quarter of a percentage point to 1%.
Investment idea: range 1.2310 -1.2405.
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