17 February 2023, GBP/USD
GBPUSD trading plan:
Stronger-than-expected reports on employment, retail sales and inflation have pushed up expectations for how much higher the Federal Reserve will need to raise rates and ignited a surge in Treasury yields. Labor market resilience is marked by the lowest unemployment rate in more than 53 years. The Fed has raised its policy rate by 450 basis points since last March from near zero to a 4.50%-4.75% range, with the bulk of the increases between May and December. Though two additional rate hikes of 25 basis points are expected in March and May, financial markets are betting on another increase in June. This is a positive signal for the dollar.
Investment idea: sell 1.1960 and take profit 1.1900.
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