06 January 2023, GBP/USD
GBPUSD trading plan:
British businesses are gloomy about prospects for 2023 as they face the likelihood of a surge energy bills and ongoing post-Brexit trade difficulties, the British Chambers of Commerce said. The BCC's quarterly economic survey - the largest private-sector survey of business sentiment - showed that 36% of businesses expect lower profits this year, compared with 34% who expect a rise. The proportion expecting higher sales over the next 12 months dropped to 44% from 54% six months earlier. The situation remains critical for the majority of SMEs who find themselves cut adrift by monumental inflationary pressures, often driving triple-digit percentage cost increases, particularly on energy.
Investment idea: sell 1.1950 and take profit 1.1889.
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