GBPUSD – Flat
GBPUSD trading plan:
U.S. central bank is expected to keep their inflation fight in high gear this week, even as they intensify a debate over when to downshift to smaller interest rate hikes so as to avoid sending the world’s biggest economy into a tailspin. With the Fed’s preferred measure of inflation running at more than three times its 2% target, the outcome of the central bank’s policy meeting on Tuesday and Wednesday is not in doubt: it will raise rates by three quarters of a percentage point for the fourth straight time, bringing the target overnight lending rate to a 3.75%-4.00% range. Bets in futures markets weigh heavily in favor of a slowdown in rate hikes starting in December, but ultimately a top Fed policy rate of 4.75%-5.00%, slightly higher than policymakers themselves have flagged, by early next year.
Investment idea: sell 1.1580 and take profit 1.1515.
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