26 April 2022, GBP/USD
GBPUSD trading plan:
The Confederation of British Industry said its quarterly measure of confidence among factory firms plunged to -34% from -9% in the three months to January, its lowest since April 2020. Manufacturing orders and output continued to grow, albeit at slower rates and the war in Ukraine was exacerbating COVID-related supply problems, the CBI said. That was pushing up costs and concerns over the availability of raw materials by the most since the mid-1970s. The survey's gauge domestic prices for the next three months rose to a 45-year high. Firms expected growth to slow further over the next three months. Average costs grew at the fastest rate since July 1975, with a net balance of 87% of firms reporting increases, up from +74% in January. Domestic prices grew at the fastest pace since October 1979, with a net balance of +60% compared with +40% in January.
Investment idea: sell 1.2765 and take profit 1.2700.
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