31 August 2022, GBP/USD
GBPUSD trading plan:
Britain's services businesses reported a record increase in costs over the past three months and are downbeat about the future, as inflationary headwinds look set to squeeze demand further, the Confederation of British Industry said. British consumer price inflation hit 10.1% in July and the Bank of England forecasts it will peak above 13% in October, when regulated household energy bills are due to rise by 80% to an annual average of 3,549 pounds. Businesses sharply raised the prices they charged customers, by the most since 2006 in the consumer sector and by the most in more than 20 years for business and professional services companies, but profit margins still shrank, the CBI said.
Investment idea: sell 1.1730 and take profit 1.1665.
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