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Sentiment is turning against the pound

Sentiment is turning against the pound | 21 December 2022

21 December 2022, GBP/USD

GBPUSD trading plan:

The UK currency is under pressure from the Bank of England turning more cautious on further interest-rate hikes, just as the European Central Bank amps up its rhetoric on the need for more action to tame inflation. BOE raised interest rates by 50 basis points, the former saw two voting members call for no change, while the latter’s decision was followed by a chorus of policy makers saying that rates would have to rise beyond what markets are expecting. BOE Says Inflation May Have Peaked as Rates Hit 14-Year High. Sentiment is turning against the pound after the final central bank meetings of the year last week.

Investment idea: sell 1.2200 and take profit 1.2140.

David Johnson
Analyst of «FreshForex» company
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