20 October 2022, GBP/USD
GBPUSD trading plan:
The biggest jump in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high hit in July in a new blow for households grappling with a cost-of-living crisis. The Office for National Statistics said the consumer price index increased by 10.1% in annual terms in September. A Reuters poll of economists. The figures hammered home the difficult environment for British households, especially those on the lowest incomes, who face new uncertainty about the extent of financial support available to them after recent government U-turns. The Bank of England will also feel under pressure to step up its interest rate hiking campaign next month.
Investment idea: sell 1.1270 and take profit 1.1210.
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