10 November 2022, GBP/USD
GBPUSD trading plan:
The dollar advanced against most major currencies, as results so far for the U.S. midterm elections showed little evidence of a "red wave" resounding Republican victory that some expected, leaving investors to focus on upcoming inflation data. Republicans made modest gains in the midterms but Democrats performed better than expected, as control of the Senate hinged on three races that remained too close to call. A stronger showing by Republicans may have backed the idea of less fiscal support and potentially a lower peak in the Fed's terminal rate, which would have been dollar negative. The inflation report could be a good litmus test to gauge whether dollar sentiment has materially softened.
Investment idea: range 1.1355 -1.1455.
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