09 March 2023, GBP/USD
GBPUSD trading plan:
Federal Reserve Chair Jerome Powell reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still underway and a decision would hinge on data still to be issued before the U.S. central bank's policy meeting in two weeks. "If - and I stress that no decision has been made on this - but if the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell told the U.S. of Representatives Financial Services Committee in testimony that added a cautionary clause to the otherwise identical message he delivered to a Senate committee. Recent inflation data was worse than expected, and revisions to prior months showed the Fed had made less progress than expected in returning inflation to its 2% target from current levels that are more than double that.
Investment idea: range 1.1820 -1.1920.
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