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The cool down period may take a while

The cool down period may take a while | 16 May 2022

16 May 2022, GBP/USD

The cool down period may take a while

GBPUSD trading plan:

The Federal Reserve is all but certain to hike interest rates by 50 basis points at upcoming meetings. The Fed's determination to contain inflation has fuelled hard landing worries. The consumer is in trouble. Soaring food and fuel prices are eroding disposable incomes and lockdown-era savings that could have been spent on travel and shopping, are dwindling fast. Overall inflation has likely peaked, as base effects pushed the year-over-year metrics down in April relative to March, but the cool down period may take a while as prices in the services sectors could stay elevated in the near term.

Investment idea: range 1.2170 -1.2270.

David Johnson
Analyst of «FreshForex» company
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