The pair is turning around.
After the dollar index reached one-year highs approaching the 97.00 mark during yesterday's trading, we are seeing a weakening.
The recently released macroeconomic indicators from the UK showed worse results than expected. However, the chart still shows an upward movement. Today we expect increased volatility in the pair, as today there will be a speech by the Bank of England's head Mark Carney and the publication of the BoE interest rate decision will take place. The interest rate is supposed to remain at the same level of 0.75%. There will also be a number of other reports. The Manufacturing Business Activity index showed a decline to the level of 51.1 instead of the projected 53.00.
However, we believe that the correction for the pair continues to take place and the pair will show growth to the levels of 1.2920 and 1.2960. We advise you to look for points to enter long positions and consider the aforementioned levels as your goals.
