23 March 2021, GBP/USD
GBPUSD trading plan:
U.S. home sales dropped to a six-month low in February amid cold weather in many parts of the country and record low supply, and a rebound could be muted by rising mortgage rates as well as higher house prices. The slump in sales did not dampen expectations for robust economic growth in the first quarter as brokers' commissions only account for a fraction of gross domestic product. Growth is seen boosted by the White House's massive $1.9 trillion fiscal stimulus and increased vaccinations against COVID-19, which are allowing more parts of the economy to reopen. This is a positive signal for the dollar. Oil was down morning in Asia, continuing its trend downwards over persistent worries about fuel demand recovery in the short term. An uneven recovery from COVID-19 globally is also putting pressure on the black liquid. Some European countries, including Germany, are extending or re-imposing restrictive measures as the number of cases climbs. This is a negative signal for the pound.
Investment idea: range 1.3800 -1.3890.
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