Trading Plan – Monday 27th February 2023: GBP boosted by Northern Ireland agreement

Mark NugentFeb 2023, Trading Plan

Trading Plan – Monday 27th February 2023: GBP boosted by Northern Ireland agreement

Good afternoon.

Last week was about the hawkish Fed FOMC Meeting Minutes and the fact that equity bulls seem to be getting the message at last. This was hammered home on Friday when the Fed’s chosen measure of inflation, the Core PCE Price Index, not only came in hot but was above the prior number, showing inflation worsening.

I placed one trade: GBPUSD short. I entered on Wednesday and exited at the Friday close for a gain of 1.68%.

This week is not too exciting on the economic calendar. The highlight is Euro zone inflation against the backdrop of a hawkish European Central Bank.

The GBP has had a major boost today due to an agreement on Northern Ireland between the UK government and the European Union. This will give better pricing for forthcoming shorts!

As always, I go through my trading themes for the week in the video.

I will be back tomorrow.

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