GBPUSD – Flat
GBPUSD trading plan:
The Federal Reserve can probably start to slow its balance sheet runoff once bank reserves fall to around 10% or 11% of gross domestic product, Fed Governor Christopher Waller said. „We’ll start slowing as we approach maybe reserves being 10% to 11% of GDP,“ Waller said at a Council of Foreign Relations event in New York. „And then we’ll kind of feel our way around to see where we should stop.“ In January 2019, Waller noted, reserves at the Fed amounted to around 8% to 9% of GDP, and „everything was working fine,“ though he admitted there are arguments that the level might need to be somewhat higher. This is a negative signal for the dollar.
Investment idea: buy 1.2390 and take profit 1.2455.
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