25 October 2022, GBP/USD
GBPUSD trading plan:
British businesses are suffering their worst month since January 2021, when they were under a COVID-19 lockdown, as the country's political upheavals compound concerns about inflation and rising interest rates, a survey showed. The S&P Global/CIPS flash Composite Purchasing Managers' Index showed a contraction in activity for a third month in a row, sinking to a 21-month low of 47.2 from September's 49.1 and signalling Britain's economy could be on course for a potentially deep recession. Political and economic uncertainty pushed overall activity down at a pace unseen since the global financial crisis in 2009.
Investment idea: sell 1.1350 and take profit 1.1290.
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