After the macroeconomic indicators published in the United Kingdom, the pound appreciated and rose above 1.3150. Furthermore, some aspects of the recent negotiations on Brexit had an impact on the rate of the British currency.
As for the dollar index, it showed a decline from yesterday's trading session and approached the 95.05 mark, so we watched the pair rise on the last candles.
At the moment on the chart we see rising peaks and it is possible that a long-term uptrend might form. However, we believe that at the moment the formation of a reversal model is underway. Volatility in the pair is quite high judging by the last candle and at this point a reversal is possible, as the pair could not overcome the 1.3050 mark.
Therefore, we advise you to look for points to enter the market, depending on the formation of the next candle, and also to receive a signal from technical indicators. The RSI is pinned to the upper boundary and we expect either an intersection or a reversal from the current level.
