16 May 2023, GBP/USD
GBPUSD trading plan:
Americans' appetite for taking on new mortgages slowed substantially during the first quarter, data released by the New York Fed fresh showed, amid a modest gain in overall household borrowing levels at the start of the year. New York Fed researchers view overall debt levels as relatively healthy, with some pockets of nascent concern. The data does not capture much in the way of an impact that may have ensued from banking sector stress that kicked off in March, the researchers said. The New York Fed said in its report that delinquency rates on housing and student debt levels remains low, although delinquency rates from credit cards and auto loans increased, testing levels seen before the pandemic.
Investment idea: buy 1.2425 and take profit 1.2550.
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