17 October 2022, GBP/USD
GBPUSD trading plan:
Britain's new finance minister Jeremy Hunt said some taxes would go up and tough spending decisions were needed, signalling further reversals from Prime Minister Liz Truss as she battles to keep her job just over a month into her term. In an attempt to appease financial markets that have been in turmoil for three weeks, Truss fired Kwasi Kwarteng as her chancellor of the exchequer on Friday and scrapped parts of their controversial economic package. "The thing that people want, the markets want, the country needs now, is stability," Hunt said. "No chancellor can control the markets. But what I can do is show that we can pay for our tax and spending plans and that is going to need some very difficult decisions on both spending and tax."
Investment idea: range 1.1210 -1.1290.
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