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Good and bad news | 16 February 2023

16 February 2023, GBP/USD

GBPUSD trading plan:

U.S. retail sales increased by the most in nearly two years in January after two straight monthly declines as Americans boosted purchases of motor vehicles and other goods. But fears that the U.S. central bank could lift borrowing costs higher than currently thought are keeping expectations of a downturn in the second half on the table. This is a negative signal for the dollar. British inflation fell by more than expected in January and there were signs of cooling price pressure in parts of the economy watched closely by the Bank of England, adding to signs that further hefty interest rate hikes are unlikely. This is a negative signal for the British currency.

Investment idea: range 1.1975 – 1.2075.

David Johnson
Analyst of «FreshForex» company
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