18 July 2023, GBP/USD
GBPUSD trading plan:
Finance executives at top British firms have turned more cautious in the face of high inflation and rising interest rates and they expect a slowdown in hiring and pay growth, a fresh survey showed. A quarterly survey by Deloitte found the difference between chief financial officers who were more optimistic about their businesses' prospects and those who were less optimistic stood at -10 percentage points, a sharp change from +25 three months earlier. The Bank of England has said the pace of wage growth is too high and it is monitoring the labour market closely as it considers whether to raise borrowing costs for the 14th time in a row on Aug. 3 in an attempt to combat high inflation.
Investment idea: sell 1.3100 and take profit 1.3020.
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