Volatility in the markets has been enhanced after recent speeches by Jerome Powell. However, after his statements about the vision of further monetary policy, investors tended to strengthening of the dollar. Negotiations on trade agreements between the EU and the United Kingdom are still in process and inconsistency in this matter is a destabilizing factor to the British pound.
We expect that in the future our pair will continue the downward movement. At the moment, the pair has found a resistance level at 1.38.
Considering our chart from the point of view of wave analysis, we can judge about the imminent completion of the price correction. Looks like a downward momentum has appeared, moving to the levels of 1.3620 and 1.3480 within the 1st broad wave or the 4th of the smaller range.
We expect that in the future our pair will continue the downward movement. At the moment, the pair has found a resistance level at 1.38.
Considering our chart from the point of view of wave analysis, we can judge about the imminent completion of the price correction. Looks like a downward momentum has appeared, moving to the levels of 1.3620 and 1.3480 within the 1st broad wave or the 4th of the smaller range.