25 April 2022, GBP/USD
GBPUSD trading plan:
U.K. retail sales fell 1.4% from February, rather than the 0.3% drop expected, and February's data were also revised down to show a drop of 0.5%, instead of the originally reported 0.3%. That left sales up only 0.9% on the year. The Office for National Statistics' Darren Morgan also said that soaring fuel costs had appeared to have an increasing impact on spending patterns, seeing evidence that people had reduced the number of non-essential journeys they took. Fuel sales fell 3.8% on the month. Inflation hit a 30-year high of 7.0% in the U.K. in March, due in large measure to fuel prices and their pass-through into other areas of the economy. GfK reported that consumer confidence in the U.K. fell to its lowest since 2009 in April.
Investment idea: sell 1.2805 and take profit 1.2735.
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