22 September 2021, GBP/USD
GBPUSD trading plan:
Investors are fixated this day on the Federal Reserve’s policy meeting as the U.S. central bank approaches the final quarter of the year, when it is expected to begin paring back its unprecedented level of bond purchases as the first step toward normalizing monetary policy. While it is possible that the Fed will announce a taper of its $120 billion in monthly purchases of Treasuries and mortgage-backed securities this week, with purchases to be reduced as soon as November, recent weakness in economic data has reduced the likelihood of such a move. Jobs data for August came in well below expectations, while red-hot inflation boosted by businesses reopening after COVID-related shutdowns is showing signs of moderation.
Investment idea: buy 1.3625 and take profit 1.3725.
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