16 December 2022, GBP/USD
GBPUSD trading plan:
British retail sales slid unexpectedly in November, despite the soccer World Cup and the Black Friday sales promotions, a potential indication of the stress felt by many households as the cost-of-living crisis eats into their finances. Retail sales volumes dropped by 0.4% in November after a 0.9% rise in October which had represented a bounce from September when sales were affected by a one-off public holiday to mark the funeral of Queen Elizabeth. Earlier, market research firm GfK said British consumer confidence crept up this month but was still close to all-time low levels. The latest readings of Britain's economy came a day after the Bank of England raised interest rates for the ninth meeting in a row and indicated more hikes were likely.
Investment idea: sell 1.2205 and take profit 1.2125.
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