30 June 2022, GBP/USD
GBPUSD trading plan:
Inflation is breaking multi-decade highs around the world as soaring energy prices, post-pandemic supply chain bottlenecks and in some cases red-hot labour markets are pushing up the cost of everything, and threatening to set off a hard-to-break wage-price spiral. "The process is highly likely to involve some pain but the worst pain would be from failing to address this high inflation and allowing it to become persistent," U.S. Federal Reserve Chair Jerome Powell said at the European Central Bank's annual conference in Sintra, Portugal. Bond traders expect the gyrations convulsing U.S. Treasuries to continue in the second half of 2022 as investors challenge the Federal Reserve’s projections for how far it will tighten monetary policy to quell the worst inflation in decades.
Investment idea: sell 1.2177 and take profit 1.2105.
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