13 April 2023, GBP/USD
GBPUSD trading plan:
Fed staff assessing the potential fallout of banking stress projected a "mild recession" later this year. But the minutes showed policymakers ultimately agreed to higher interest rates as data at the time showed few signs of inflation pressures abating. Money markets initially trimmed expectations for a Fed rate hike in May, pricing in a 65% chance of a 25-basis-point move, CME Group's FedWatch Tool showed. Markets still are pricing the Fed to cut its target rate to 4.3% by December, slightly less than the day before, as the economy slows and potentially enters a recession.
Investment idea: buy 1.2459 and take profit 1.2531.
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