24 November 2022, GBP/USD
GBPUSD trading plan:
The Bank of England set out operational details of its plans to start selling some of the 19.3 billion pounds of long-dated and index-linked gilts which it bought from Sept. 28 to Oct. 14 to stabilise financial markets. The BoE is keen to sell in a "timely" way the bonds it bought to halt a fire sale of assets by British pension funds, which was triggered by a slump in bond prices after then-finance minister Kwasi Kwarteng's Sept. 23 mini-budget. The central bank had previously said sales would begin in the week starting Nov. 29, and that the volume sold would depend on demand from investors - in contrast to its fixed auction schedule to sell gilts bought for quantitative easing purposes.
Investment idea: buy 1.2040 and take profit 1.2105.
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