GBPUSD – Flat
GBPUSD trading plan:
Britain set out a support package for businesses to deal with soaring energy bills going into the winter season. The plan will give businesses some confidence to plan for immediate survival but we will not relent in our pursuit of a more comprehensive package to safeguard businesses and jobs. This support package is significant and will ease the cost pressures that have been piling up on businesses. It will allow many firms that were facing closure, or having to lay off staff or reduce output, to keep going through the winter. Setting a price cap for electricity at £211/MWh for six months gives foundation sectors, such as steel, the chance to get through the winter by giving us a competitive business landscape.
Investment idea: range 1.1225 -1.1335.
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