26 July 2022, GBP/USD
GBPUSD trading plan:
British industrial output grew at the slowest pace in over a year in the three months to July, but there are tentative signs that some challenges around inflation and investment are easing, a Confederation of British Industry survey showed. The Bank of England's Monetary Policy Committee must decide next week whether to speed up the pace of interest rate rises with a rare half-point rate rise to tackle the highest inflation in 40 years. Surging inflation has driven consumer sentiment to its lowest since records began in the 1970s, but business activity has been slower to weaken. BoE policymakers have been gloomy about Britain's medium- to long-term ability to meet economic demand, in part because of low investment by international standards. Without higher investment and productivity, higher interest rates may be needed to keep inflation in check, even with limited growth.
Investment idea: sell 1.2070 and take profit 1.1975.
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