06 October 2023, GBP/USD
GBPUSD trading plan:
Rocketing U.S. government bond yields that have led to a global jump in borrowing costs are raising new risks for economic policymakers hoping to lower inflation without triggering a major crisis. The cause - whether high government deficits, China's suddenly turgid economy, or political dysfunction in the U.S. Congress - may be less important, though, than the implications for a world financial system that had seemed headed for a "soft landing" from the post-pandemic breakout of inflation. Central banks around the world approved rapid-fire interest rate increases in response to rising prices, and officials throughout the policy tightening welcomed the largely smooth adjustment in global financial conditions as a testament to better monetary and fiscal management across many countries.
Investment idea: sell 1.2216 and take profit 1.2100.
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