26 October 2022, GBP/USD
GBPUSD trading plan:
Rishi Sunak became Britain's third prime minister in two months and pledged to lead the country out of a profound economic crisis and rebuild trust in politics. Sunak quickly reappointed Jeremy Hunt as his finance minister in a move designed to calm markets that had balked at his predecessor's debt-fuelled economic plans. The former hedge fund boss said he would unite the country and was expected to name a cabinet drawn from all wings of the party to end infighting and abrupt policy changes that have horrified investors and alarmed international allies. Finance bosses are hopeful his new administration will have a steadying influence on markets, after the deep tax-cutting plans of his predecessor Liz Truss spooked investors and sparked a chaotic sell-off of government bonds that forced the Bank of England to intervene.
Investment idea: buy 1.1485 and take profit 1.1550.
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