18 March 2021, GBP/USD
GBPUSD trading plan:
Fed Chair Jerome Powell and his colleagues remained dovish at the end of their meeting Wednesday, despite upgrading their U.S. economic outlook and the mounting inflation worries in financial markets. While a growing number of officials saw an earlier start than peers to the withdrawal of ultra-easy monetary policy, Powell stressed this remains a minority view. Powell said that the price increases this year are likely to be transient and won’t be seen as progress toward the Fed’s long-term goals. He also said current monetary policy is appropriate and there’s no reason to push back against the surge in Treasury yields. This is a negative signal for the dollar.
Investment idea: buy 1.3950 and take profit 1.4022
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