02 December 2022, GBP/USD
GBPUSD trading plan:
British businesses reported cooling price pressures but warned of lower employment and investment ahead, in a Bank of England survey on Thursday that should reassure policymakers that their interest rate rises are taking effect. Businesses on average reported that they have raised prices by 7.2% over the 12 months to November, the smallest amount since April, and expected prices to rise by 5.7% over the coming year, the least since February. The BoE looks closely at surveys of businesses' pricing expectations for a guide as to how persistent inflation is likely to be, and how much it needs to raise interest rates.
Investment idea: buy 1.2180 and take profit 1.2257.
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