29 November 2022, GBP/USD
GBPUSD trading plan:
New York Federal Reserve President John Williams said the U.S. central bank needs to press forward with rate rises but did not say how fast and how far it will need to boost short-term borrowing costs, even as he reckons a rate cut is possible in 2024 as inflation pressures likely ease. "I do think we're going to need to keep restrictive policy in place for some time; I would expect that to continue through at least next year," Williams said at a virtual event held by the Economic Club of New York, noting that borrowing costs need to rise to bring down overly high levels of inflation. "I do see a point probably in 2024 that we'll start bringing down nominal interest rates because inflation is coming down."
Investment idea: buy 1.1950 and take profit 1.2085.
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