15 November 2023, GBP/USD
GBPUSD trading plan:
Cooling inflation will allow the Federal Reserve to forgo any more interest rate hikes and indeed to start cutting rates by May, traders bet, after a U.S. government report showed consumer prices for October were unchanged compared with the prior month. The report, which showed the consumer price index rose just 3.2% from a year earlier, after rising 3.7% in September, "looked pretty good," Chicago Federal Reserve Bank President Austan Goolsbee said. Core inflation, which excludes energy and food, rose 4% from a year earlier, the slowest pace in more than two years, the report showed. While still well above the Fed's 2% target, the trend downward may give Fed policymakers more confidence that policy is tight enough to do the job.
Investment idea: buy 1.2450 and take profit 1.2510.
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