17 Juni 2022, GBP/USD
GBPUSD trading plan:
Federal Reserve policymakers are less confident than at any time since the height of the pandemic about what will happen with the economy, data published alongside their forecasts and the Fed's hefty three-quarters-of-a-point rate hike this week show. It is clear that path of inflation continues to be the key consideration in how quickly the Fed gets to, and how far it moves past, the range of neutral in order to bring inflation down. All 18 Fed policymakers are more-than-usually uncertain about their inflation and economic growth forecasts, and all but one notes the same about their unemployment rate projections, the data shows. The same documents also show that no policymaker believes their forecasts are too pessimistic, and most believe they could be underestimating the risks.
Investment idea: range 1.2220 -1.2330.