GBPUSD – Flat
GBPUSD trading plan:
Consumer expectations for US inflation over the coming years declined sharply in the latest survey by the Federal Reserve Bank of New York, a finding that may ease the Fed’s concern about ever-rising prices getting baked-in to household behavior. Expectations for US inflation three years ahead fell to 3.2% in July, from 3.6% the previous month, according to the New York Fed’s Survey of Consumer Expectations. It was the second straight monthly drop. The outlook for inflation in the coming year fell to 6.2% from 6.8%. US inflation has surged to four-decade highs in the past year, driven by pandemic-related supply shortfalls and soaring commodity prices, as well as strong consumer demand bolstered by fiscal stimulus and low interest rates.
Investment idea: buy 1.2060 and take profit 1.2111.
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