10 May 2022, GBP/USD
GBPUSD trading plan:
U.S. consumers' inflation expectations one year from now dipped in April but their view of inflation over the medium-term rose and household spending expectations also climbed to a record high, according to a Federal Reserve Bank of New York survey published. Median expectations for where inflation will be in one year fell 0.3 percentage point to 6.3%, while they increased to 3.9%, a rise of 0.2 percentage point, over a three-year outlook. Americans are in the grip of 40-year-high inflation with few signs it will swiftly abate any time soon. Tightening monetary policy works to lower inflation by dampening demand but the New York Fed survey suggests households as yet have no plans to cut back. Median household spending growth expectations rose to 8.0%, a rise of 0.3 percentage point and a record high for the series.
Investment idea: sell 1.2348 and take profit 1.2285.
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