19 June 2023, GBP/USD
GBPUSD trading plan:
The University of Michigan's survey followed data this week showing annual consumer and producer prices retreating sharply in May, largely thanks to declining energy costs. The University of Michigan survey's reading of one-year inflation expectations dropped to 3.3% this month, the lowest since March 2021, from 4.2% in May. Its five-year inflation outlook dipped to 3.0% from 3.1% in May, staying within the narrow 2.9-3.1% range for 22 of the last 23 months. Easing worries about inflation lifted consumers' spirits this month. The survey's preliminary reading on the overall index of consumer sentiment came in at a four-month high of 63.9 in June compared with 59.2 in May.
Investment idea: sell 1.2845 and take profit 1.2775.
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