15 September 2023, GBP/USD
GBPUSD trading plan:
Britain reported an annual rise of 14% in missed bill payments last month for their second highest rate on record, figures showed, pointing to growing financial strain on households. The percentage of failed direct debits - mostly used for utility bills or mortgage and credit card repayments - rose from 0.82% in July to 0.83% in August, the second highest rate in monthly records, which started in January 2019. British households' finances have been under pressure over the past year from high inflation and rising interest rates. Consumer price inflation hit a 41-year high of 11.1% in October 2022 and was still far above target at 6.8% in July, the highest among major advanced economies. Food and energy bills have risen faster than other prices, hurting poorer households. Rising inflation could force the Federal Reserve to raise interest rates.
Investment idea: sell 1.2480 and take profit 1.2400.
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