21 June 2022, GBP/USD
GBPUSD trading plan:
The U.S. Federal Reserve could raise interest rates swiftly this year and forge a "stellar" economy ahead if it can pull off a repeat of the success of the central bank's 1994 tightening cycle, St. Louis Fed President James Bullard said. Bullard has been a vocal backer of aggressive Fed action to tame stubbornly high inflation that is running at more than three times the U.S. central bank's 2% goal. The 1994 tightening cycle saw the Fed double interest rates to 6% in seven rapid-fire hikes that included one 75 basis point and two 50 basis point moves. The Fed's so-called soft landing, in which a recession was averted, was followed by a period of rapid growth and a historically tight labor market.
Investment idea: sell 1.2300 and take profit 1.2225.
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