11 August 2023, GBP/USD
GBPUSD trading plan:
San Francisco Federal Reserve Bank President Mary Daly on Thursday said that while recent inflation data is moving in the right direction, more progress is needed before she would feel comfortable the Fed has done enough. "Whether we raise another time, or hold rates steady for a longer period -- those things are yet to be determined," Daly said. Daly spoke a couple hours after the U.S. Labor Department reported that underlying consumer price inflation moderated in July, with the core CPI, which excludes food and gas prices, rising 4.7% from a year earlier, after a 4.6% increase in June. The Fed targets 2% inflation. While goods inflation is receding, and newly signed lease trends signal inflation from housing will also cool, core services inflation excluding housing has so far made little progress, Daly said.
Investment idea: sell 1.2740 and take profit 1.2665.
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