30 November 2021, GBP/USD
GBPUSD trading plan:
Speculators' net bearish bets on U.S. 10-year Treasury note futures rose to their largest since roughly mid-February 2020, according to Commodity Futures Trading Commission data released. Futures on U.S. 10-year notes showed net shorts of 323,415 contracts, according to the CFTC's latest Commitments of Traders data. A week earlier, speculators held 294,141 net short positions in 10-year T-note futures. This is a positive signal for the US dollar. With costs of everyday items like food, gas and rent rising quickly, Fed officials have indicated they could speed up the pace of the taper to give more scope for an earlier interest rate lift-off next year if required, according to the minutes of the central bank's last policy meeting published last week. The topic is on the agenda for the Fed's Dec. 14-15 policy meeting. Fed could raise rates as early as mid-2022.
Investment idea: sell 1.3351 and take profit 1.3304.