24 February 2022, GBP/USD
GBPUSD trading plan:
Bank of England Governor Andrew Bailey said there were clear risks that inflation could again overshoot the central bank's forecasts but markets should not get carried away about the likely scale of interest rate rises. The BoE forecasts inflation will peak at a 30-year high of around 7.25% in April when a 54% rise in regulated household energy bills takes effect. Financial markets expect the BoE to raise rates to nearly 2% this year from 0.5% now. Bailey said there were clear upside risks to the BoE's central inflation forecast if the historic surge in energy prices led to higher wage deals and businesses passing on the costs to consumers.
Investment idea: sell 1.3531 and take profit 1.3470.
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