GBPUSD – Flat
GBPUSD trading plan:
Britain’s businesses grew at their slowest pace in 17 months in July and inflation pressures eased, according to an industry survey that might reduce pressure on the Bank of England to deliver a bigger-than-usual interest rate. The concern is that rising interest rates, as the Bank of England seeks to control inflation, will cause demand growth to weaken further in the coming months. The slowdown was mostly due to weaker demand but continued shortages of supplies and staff also put a break on growth. Input cost inflation fell to a 10-month low. Companies remained cautious about the outlook although their mood improved from June’s 25-month low, driven by service firms. Employment rose at the slowest pace in 16 months.
Investment idea: sell 1.2010 and take profit 1.1950.
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