07 March 2022, GBP/USD
GBPUSD trading plan:
The U.S. economy created far more jobs in February than expected. The Labor Department said 678,000 nonfarm jobs were created in the month through mid-February, nearly 70% more than the 400,000-consensus forecast. However, wage growth decelerated, partially easing the pressure on the Federal Reserve to tighten monetary policy. Average hourly earnings growth slowed to 5.1% on the year from a downwardly revised 5.5% in January. Expectations had been for an acceleration to 5.8%. The numbers are likely to cement expectations that the Federal Reserve will raise interest rates later this month, validating two days of testimony in Congress by Fed Chair Jerome Powell who said that the U.S. labor market and the economy in general were strong enough to justify withdrawing the extraordinary stimulus that has been in place since the outbreak of Covid-19 two years ago.
Investment idea: sell 1.3228 and take profit 1.3175.
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