15 November 2021, GBP/USD
GBPUSD trading plan:
The Bank of England will be the first major central bank to raise interest rates but whether that initial increase comes as soon as next month or if it waits until early next year has divided economists polled by Barclays Investment Bank. While the median forecast in the Nov. 8-12 poll was for a 15 basis point increase on Dec. 16, just under half of those polled, 21 of 47, said the Bank would hold firm. If it does act next month it would be its first December hike since 1994. The majority of the MPC could well be minded to increase Bank Rate by 15 basis points in December. While economists’ forecasts for a December increase were on a knife edge, a rise in the first quarter of 2022 appears baked in, most likely in February when the Bank publishes its quarterly Monetary Policy Report. All but one of 44 economists is forecasting an increase by the end of March.
Investment idea: buy 1.3398 and take profit 1.3459.
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