Forex Fundamental Analysis – Who could replace Boris Johnson?


GBPUSD trading plan:

Who could replace Boris Johnson as Britain’s prime minister? Sunak announced his leadership bid on Friday with a campaign video in which he promised to confront the difficult economic backdrop with „honesty, seriousness and determination“, rather than piling the burden on future generations. „Someone has to grip this moment and make the right decisions,“ he said. Sunak was made finance minister in early 2020 and was praised for a COVID-19 economic rescue package, including a costly jobs retention programme that averted mass unemployment. But he later faced criticism for not giving enough cost-of-living support to households. Revelations this year about his wealthy wife’s non-domiciled tax status, and a fine he received for breaking COVID lockdown rules, have damaged his standing. His tax-and-spend budget last year put Britain on course for its biggest tax burden since the 1950s, undermining his claims to favour lower taxes.

Investment idea: sell 1.2050 and take profit 1.1946.

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