14 Juli 2022, GBP/USD
GBPUSD trading plan:
Federal funds futures, which reflect traders' bets on monetary policy, recently showed a more-than 80% chance of a super-sized 100-basis-point rise at the coming meeting, compared to a roughly one-in-nine chance before the report, according to data from the CME Group. Recession worries have grown over the last few weeks, with several Wall Street banks calling for an increased chance of an economic downturn brought on by a hawkish, inflation-fighting Fed. The International Monetary Fund on Tuesday warned that avoiding recession in the U.S. will be "increasingly challenging" as it again cut its 2022 U.S. growth forecast. "Everything is in play," Atlanta Fed President Raphael Bostic told reporters in Florida, when asked specifically whether the Fed could go even bigger than the 75-basis-point hike it delivered last month.
Investment idea: sell 1.1860 and take profit 1.1800.
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