GBPUSD – Flat
GBPUSD trading plan:
Sterling slumped against to a two-year low against the dollar as a crisis in British Prime Minister Boris Johnson’s government compounded pressure on a currency already reeling from recession fears and a resurgent greenback. Finance minister Rishi Sunak’s resigned minutes after the health minister stepped down saying he had lost confidence in Johnson’s ability to govern in the national interest. The resignations could be the final blow for Johnson’s premiership after he had tried to apologise for the latest scandal to dog his almost three years in office. The British parliament is considering a new law which would unilaterally change customs arrangements between Britain and Northern Ireland that were initially agreed as part of its EU exit deal. Investors said Johnson’s days in office appeared to be numbered but choosing a new Conservative party leader could take weeks.
Investment idea: sell 1.2010 and take profit 1.1945.
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