2:59 PM · 14 October 2022

BREAKING: UK tax cut "on the table" again

The topic of tax cuts in the UK has been generating a lot of excitement lately. Prime Minister Truss confirmed today that she wants a tax cut is still possible. The medium-term fiscal plan is expected to be presented at the end of the month

As for the reaction on the British pound, this one started to lose after Truss' comments. Looking at the M15 interval, GBPUSD quotes are just testing the trendline support. If a break lower were to occur, it is worth paying attention to the zone at 1.1165. On the other hand, if it is defeated, the discount could take a turn for the worse.

Source: xStation5

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Forex

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