21 March 2022, GBP/USD
GBPUSD trading plan:
British consumers' spending on credit and debit cards slipped back slightly in the week to March 10 to match its average level in February 2020, weekly Bank of England CHAPS data published by the Office for National Statistics showed. Retail footfall in the week to March 12 was up 3% on the week before and 87% of its level in the same week of 2019, the ONS said. This is a positive signal for the British economy. The Fed signaled that further rate increases where appropriate. In addition, the “dot plot” was released, which provides the individual member’s projections on the future path of interest rates. As of this week’s meeting, the median dot of the Committee, in aggregate, reflects seven interest rate hikes in total in 2022. This is an increase from three holes just three months ago. This is a positive signal for the dollar.
Investment idea: range 1.3135 -1.3230.
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