Our pair will continue to trade in an uptrend in the long term. However, at the moment, despite the difficulties for the dollar, the pair is heading down. In the near future the pair will try to test the trend line. This is indicated to us by the trend indicator RSI and the MACD histogram. We also see that the upward impulse has weakened and at the moment the price is undergoing a correction. Therefore, we would consider options for entering short positions.
Today the statistics on the labor market will be released in the US. There will also be a speech by the head of the Bank of England, Mark Carney. During the release of this data market volatility may accelerate.
We expect that the price will test the levels of 1.4110 and 1.4075. If it breaks the level, the price will stick to the trend line.
