03 May 2023, GBP/USD
GBPUSD trading plan:
A continued drop in job openings and a dip in the rate at which workers are quitting have kept alive, for now, a key Federal Reserve narrative that the economy can slow without a major crack in employment. New data for March showed the ratio of job openings to the number of unemployed job seekers fell for the fourth consecutive month and hit the lowest level since October 2021. The Fed is expected to raise its benchmark policy rate on Wednesday by another quarter of a point, to a range of between 5% and 5.25%, as it tries to curb inflation that is still running at more than double its 2% target. Higher interest rates should curb household and business spending and lower the pace of price increases as well.
Investment idea: buy 1.2455 and take profit 1.2532.
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