17 Agustus 2023, GBP/USD
GBPUSD trading plan:
Worries about persistently high inflation in Britain grew as key measures of price growth monitored by the Bank of England failed to ease in July, despite a sharp drop in the headline inflation rate. The drop in the headline rate reflected falling energy prices and will be welcomed by British consumers who have faced higher inflation than in most other industrialised countries. But fresh signs of stickiness in core inflation and consumer service prices echoed warnings by BoE policymakers this month that the risks of long-lasting high inflation were beginning to crystallise. The strength in core inflation is bad news for Prime Minister Rishi Sunak, who has promised to halve inflation by the end of the year - a goal that is now in question.
Investment idea: range 1.2670 -1.2780.
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