GBPUSD – Flat
GBPUSD trading plan:
Banking stocks globally have been battered since Silicon Valley Bank collapsed last week due to bond-related losses that piled up when interest rates surged last year, raising questions about what else might be lurking in the wider banking system. Rapidly rising interest rates have made it harder for some businesses to pay back or service loans, increasing the chances of losses for lenders already worried about a recession. U.S. regulators said the show of support was most welcome, and showed the resilience of the banking system. Policymakers have emphasized that the current turmoil is different than the global financial crisis 15 years ago as banks are better capitalised and funds more easily available.
Investment idea: buy 1.2150 and take profit 1.2220.
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