Despite the release of somewhat negative data from the UK, investors are still optimistic. The pair is currently in an uptrend. Today we expect the release of data on retail sales in the US, as well as speeches by some members of the FOMC.
The next meeting of the Federal Reserve will be a constraining factor for the growth of our pair this week. Another increase in the interest rate is expected.
Considering our chart, we observe an uptrend on the 4-hour chart. Technical indicators also show an upward movement. The nearest resistance level for the pair will be the psychological mark of 1.43, from which it is possible for the pair to change course and return to the support line. However, after this we forecast a further upward movement.
