The pair continues to decline.
The US dollar index continues to grow and the reserve currency strengthens against the British pound. The recently released UK PMI index showed disappointing results and accelerated the pair’s decline.
Furthermore, today we expect the speech of Federal Reserve Chairman Jerome Powell, who will announce the Fed's future plans for monetary policy.
Our technical indicators point to sales and confirm entry into short positions. Therefore, we expect a decrease in the pair. The levels of of 1.2960 and 1.2910 might be reached. In the case of overcoming these levels, the price will go to the level of 1.2810. We advise you to look for points to enter short positions and set take-profits at the above-mentioned levels.
