GBP/USD to gain on Truss plan? [Video]

Giles Coghlan LLB, Lth, MA Financial Source

The GBP has been pressured recently on USD strength, concerns over Brexit, stresses over a 2022 recession to last 15 months, huge energy price rises, and inflation projections from the BoE to go over 13%. So, the new plan from the incoming PM, Liz Truss, has been well received by the GBP this morning.

It was reported overnight that Liz Truss has plans to freeze UK energy bills in a move billed to cost £130 billion.

This potential gain in the GBP is backed by the seasonal data.

Major Trade Risks: The major risk here is that the recent USD strength keeps the GBP pressured.

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Author

Giles Coghlan LLB, Lth, MA

Financial Source

Giles is the chief market analyst for Financial Source. His goal is to help you find simple, high-conviction fundamental trade opportunities. He has regular media presentations being featured in National and International Press.

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