GBPUSD – Flat
GBPUSD trading plan:
Britain’s economy rebounded in October a little more strongly than expected from September when output was affected by a one-off public holiday to mark the funeral of Queen Elizabeth, but a recession remained on the cards, official data showed. The figures are unlikely to change the view among investors and analysts that Britain’s economy faces a bleak 2023. British financial markets showed no reaction to the figures. The Bank of England – which looks set to raise interest rates for a ninth meeting in a row on Thursday to contain the risks from an inflation rate above 11% – said last month that Britain’s economy looked set for a two-year recession if interest rates rose as much as investors had been pricing.
Investment idea: sell 1.2315 and take profit 1.2265.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
