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The market is focused on the Fed's

The market is focused on the Fed's | 02 November 2021

02 November 2021, GBP/USD

GBPUSD trading plan:

The market is focused on the Fed's two-day meeting and Wednesday's widely expected announcement that the central bank's monthly $120 billion purchases of Treasuries and mortgage-backed securities will be reduced. After flattening last week, a closely-watched part of the yield curve that measures the gap between yields on two- and 10-year Treasury notes was last about 1 basis point steeper at 106 basis points. The U.S. Treasury said it plans to borrow $1.015 trillion in the fourth quarter, up from an August estimate of $703 billion, due to having a lower balance at the beginning of the quarter. This is a positive signal for the dollar.

Investment idea: sell 1.3675 and take profit 1.3625.

David Johnson
Analyst of «FreshForex» company
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