28 November 2022, GBP/USD
GBPUSD trading plan:
Britain's Office for National Statistics revised up its producer price inflation figures because of an error, meaning factory gate inflation this year has been higher than thought previously. Headline annual output producer price inflation was revised up by an average of 1.8 percentage points from January to October 2022, with the latest reading for last month revised up to 17.2%, from 14.8% previously. "The error was because of diesel fuel not being allocated a correct weight within the output price index, which resulted in Petroleum Products being around half the correct weight of 6.5% since the start of the year," the ONS said in a statement.
Investment idea: sell 1.2100 and take profit 1.2020.
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