11 May 2022, GBP/USD
GBPUSD trading plan:
The Federal Reserve should continue to hike interest rates in bigger-than-usual half-percentage-point increments to control inflation, U.S. central bankers said, even as they acknowledged doing so could lead to higher unemployment. "I think 50 basis-point hikes in the next two meetings makes perfect sense," Cleveland Fed President Loretta Mester told. New York Fed President John Williams, speaking earlier, agreed that the price of bringing down inflation may be a slight rise in the jobless rate, currently at 3.6% and indicative of a labor market that by many measures is the strongest in 50 years. "Once we get in the range of the neutral rate, we can then determine whether inflation remains at a level that requires us to put the brakes on the economy or not," Richmond Fed President Thomas Barkin told.
Investment idea: sell 1.2375 and take profit 1.2299.
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