03 August 2023, GBP/USD
GBPUSD trading plan:
U.S. private payrolls increased more than expected in July, pointing to continued labor market resilience that could shield the economy from a recession. Private payrolls rose by 324,000 jobs last month, the ADP National Employment report showed. Data for June was revised lower to show 455,000 jobs added instead of the previously reported 497,000. The labor market is only slowing gradually despite 525 basis points worth of interest rate increases from the Fed since March 2022. The government reported on Tuesday that there were 1.6 job openings for every unemployed person in June, little changed from May. A survey last month showed consumers very bullish about the labor market in July.
Investment idea: sell 1.2727 and take profit 1.2640.
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