WEEKLY TRADING FORECAST & CHART OF THE WEEK #5

7/10/2022

Chart Of The Week
GBPUSD

As recession risks loom and investors doubt the BoE will be able to control inflation without damaging the economy, the pound has fallen to pandemic-lows since May 2021.

Inflation shows no sign of peaking, and households are likely to become even more stretched in the coming months, with markets scaling back some rate hike bets.

After several cabinet members quit, Boris Johnson resigned, making him the UK's fourth prime minister in six years. I am expecting further downside on the British Pound as a result of all this uncertainty.