Today we expect the release of macroeconomic indicators for both currencies, which can accelerate the market and, in the case of improved indicators, turn around the direction of our pair.
By the beginning of today's trading session, we are observing the completion of the correction of the currency pair, which began in the New Year, and the strengthening of bullish sentiments.
When considering the pair from the point of view of wave analysis, we can also confirm that the second corrective wave is almost over and the price is currently trading near the resistance level of 1.3530.
Data released today on house prices in the UK showed improved indices and supported the growth of the pair. In addition, today we expect releases about the pound, and we need to see how they compare to the previous level of 53.8.
In the United States today we expect data on employment in the non-agricultural sector for December, which would also be able to exert some influence on the quotation.
Nevertheless, taking into account the above-mentioned factors and technical indicators, we can safely assume that our pair will continue its upward movement, and therefore we will look for points to enter long positions. The medium-term goal is set at 1.3600.
