The trend is yet to be determined.

On the our chart we can see that our pair found a resistance level near the 1.3250 mark, from which it rushed up again.

After a long rally for the dollar, its index is currently down to around 93.90. Against the background of this retreat, our quotations have moved to local growth.

Overall, we expect that the downward movement will continue soon, but we are seeing a correction at the moment. The pair has consolidated in the corridor of 1.3250-1.3390.

The RSI is out of the oversold zone and is headed upwards. The MACD is still in the negative zone, which gives us a mixed performance.

Recently published data on the business activity in the UK services sector supported the British pound, but today we are awaiting reports regarding the US labor market and the index of business activity in the non-manufacturing sector. These can renew the dollar rally.

At the moment we recommend looking for points of entry into the market at lower charts and waiting for a clear confirmation on the sell signal.