The excellent progress | 17 March 2022

17 March 2022, GBP/USD

The excellent progress

GBPUSD trading plan:

Federal Reserve policymakers have made "excellent progress" on their plan for reducing the central bank's nearly $9 trillion balance sheet, and could finalize details at their next policy meeting in May, Fed Chair Jerome Powell said. The Fed will provide more details on the plan's parameters when it releases minutes of Wednesday's policy meeting in three weeks' time, he said. The Fed said balance sheet reductions would generally happen not through outright sales of bonds but by allowing securities to roll off as they mature. Investors expect the Fed to set monthly caps to control the reduction and make it predictable.

Investment idea: sell 1.3199 and take profit 1.3115.

David Johnson
Analyst of «FreshForex» company
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