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Dollar bullish trend

Dollar bullish trend | 28 September 2023

28 September 2023, GBP/USD

GBPUSD trading plan:

Federal Reserve Bank of Minneapolis President Neel Kashkari was one among several Fed voices to caution markets on the possibility of more hikes, saying on Wednesday that ample evidence of ongoing economic strength meant that more tightening might be in the pipeline. Economic data out of the U.S. continues to surprise with its strength, defying trader expectations for a slowdown. Despite fears earlier this year that the U.S. could fall into recession, we are probably seeing a reacceleration in economic activity, which is also propelling U.S. yields up.

Investment idea: sell 1.2190 and take profit 1.2101.

David Johnson
Analyst of «FreshForex» company
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