06 December 2022, GBP/USD
GBPUSD trading plan:
Britain's services sector shrank slightly for a second month running in November, as cost-of-living pressures for households and businesses' uncertainty about the economic outlook squeezed demand, a fresh survey showed. The S&P Global/CIPS purchasing managers' index for the services sector held at 48.2 last month, matching October's 21-month low and an earlier 'flash' estimate for November. The composite PMI, which combines services and manufacturing, held at 48.2, its lowest since January 2021 when Britain was in a COVID-19 lockdown. Britain is likely to see Europe's biggest fall in economic output next year, the Organisation for Economic Co-operation and Development forecast last month.
Investment idea: sell 1.2220 and take profit 1.2133.
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