26 August 2022, GBP/USD
GBPUSD trading plan:
U.S. Federal Reserve officials were noncommittal about the size of the interest rate increase they will approve at their Sept. 20-21 meeting, but continued hammering the point they will drive rates up and keep them there until inflation has been squeezed from the economy. Esther George said it remained "too soon to say" whether a half-point or three-quarter-point rate increase would be most appropriate at the September meeting. However, she said, "our charge is pretty clear, to bring inflation back to our target" by raising interest rates high enough to fix what she called a "fundamental imbalance" between the demand for goods and services and the economy's ability to produce or import them. Philadelphia Fed President Patrick Harker had a similar message, though he appeared to see policy rates topping out a bit lower than George.
Investment idea: range 1.1740 – 1.1840.
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