13 October 2021, GBP/USD
GBPUSD trading plan:
Three U.S. Federal Reserve policymakers said the economy has healed enough for the central bank to begin to withdraw its crisis-era support, cementing expectations the Fed will start to taper its monthly bond purchases as soon as next month. “I myself believe that the ‘substantial further progress’ standard has more than been met with regard to our price-stability mandate and has all but been met with regard to our employment mandate,” Fed Vice Chair Richard Clarida told the Institute of International Finance virtual annual meeting. “I think that the progress has been made, and the sooner we get moving on that the better,” Fed President Raphael Bostic said in an interview with the Financial Times. Bullard, speaking on CNBC, said he would like to wrap up the taper by the first quarter of 2022 so that if inflation stays high or goes even higher the Fed could raise rates “in the spring or summer if we had to do so.” This is a positive signal for the dollar.
Investment idea: sell 1.3635 and take profit 1.3585.
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