15 June 2023, GBP/USD
GBPUSD trading plan:
The new projections by the Federal Open Market Committee added a hawkish tilt to interest rate decision, showing policymakers at the median see the benchmark overnight interest rate rising from the current 5.00%-5.25% range to a 5.50%-5.75% range by the end of the year. Half of the 18 Fed officials penciled in their "dot" at that level, with three seeing the policy rate moving even higher - including one official who sees it rising above 6%. Combined, the rate outlook and the projections are likely to lead traders to expect a resumption of quarter-percentage-point rate increases beginning at the next policy meeting in July, which Powell suggested is possible as the Fed sets rate policy meeting by meeting.
Investment idea: sell 1.2680 and take profit 1.2585.
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