State of the Market: the market is waiting for drivers

After very volatile trading on Friday, due to unexpected statements, there is a lull in the market caused by the lack of news and the reluctance of investors to take risks. So, after yesterday’s sales off of the American, the market is in uncertainty, which is strengthened by the upcoming meeting of the US Federal Reserve, the results of which will be published on Wednesday.

In addition to the American, the market also continues to monitor the British pound, which significantly strengthened yesterday on data on the progress of negotiations on Brexit. At the same time today, there will also be data on inflation in the UK, which can also have a significant impact on the dynamics of the pound.

At the moment, the British pound is in the overbought zone and is limited by the upper limit of the rising channel and the level of 1.4050. Weak inflation data in the UK may cause a correction from these levels. At the same time, positive statistics on British pound are likely to be limited by the overbought of the pound.

Fig. GBP/USD. The current price is 1.4050.

Hanzenko Anton