02 May 2022, GBP/USD
GBPUSD trading plan:
U.S. consumer spending rose more than expected in March amid strong demand for services, while monthly inflation surged by the most in 16-1/2 years, giving the Federal Reserve ammunition to hike interest rates by a hefty 50 basis points this week. Spending on services increased 1.1%, lifted by demand for international travel, dining out at restaurants as well as hotel stays. There were also increases in healthcare spending and outlays on recreation and transportation services. Spending on goods increased 1.2%, mostly reflecting gasoline and other energy products, as well as food, whose prices have risen sharply. Spending on long-lasting goods like motor vehicles fell for a second straight month because of shortages.
Investment idea: sell 1.2610 and take profit 1.2538.
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