24 November 2021, GBP/USD
GBPUSD trading plan:
UK private sector firms experienced another month of rapid inflation. Customer demand continued to rise sharply in November, despite the pass through of higher costs to clients, with the overall rate of new order growth accelerating to a five-month high. A combination of sustained buoyant business growth, further job market gains and record inflationary pressures gives a green light for interest rates to rise in December. Output growth across manufacturing and services came in slightly faster than expected in November, albeit heavily skewed towards the service sector as factories continued to struggle with supply shortages and falling exports.
Investment idea: buy 1.3355 and take profit 1.3407.
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