GBPUSD – Flat
GBPUSD trading plan:
The number of Americans filing new claims for unemployment benefits fell last week to a three-month low, underscoring the robustness of the labor market even as the Federal Reserve raises interest rates. The Federal Reserve has raised interest rates by 225 basis points since March in a bid to tame high inflation by dampening demand in the economy. Despite that, there is little indication yet of widespread layoffs and there are still two vacancies for every unemployed person. The strength of the labor market has put to bed fears the economy is in recession after gross dome. In its closely-watched monthly jobs report, the government reported last week that employers hired more workers than expected in August, although moderate wage growth and a rise in the unemployment rate due to more people joining the labor force also suggested employee shortages may be easing.
Investment idea: sell 1.1630 and take profit 1.1525.
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