28 February 2023, GBP/USD
GBPUSD trading plan:
The UK long-running consumer confidence index rose seven points to -38, with all five confidence measures up, but GfK said the measure remains "severely depressed". The measure for the general economic situation of the country in the last year was six points higher at -65, while the same index but for the next 12 months rose 11 points to -43. The major purchase index ticked up three points to -37 and the savings index - which measures how likely people are to save - increased five points to +19. This index is not included in the overall GfK measure. Despite widely reported headwinds of inflation continuing to outstrip wage rises, and the ongoing household challenge from the cost-of-living crisis, consumers have suddenly shown more optimism about the state of their personal finances and the general economic situation, especially for the coming year.
Investment idea: range 1.1965 - 1.2095.
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