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GBP / USD pair declines under the onslaught of the dollar

The GBP / USD pair is trading in the green zone amid a recovery in the dollar and low demand for riskier assets.

 

Today, the dollar index recovered 0.15%. Trading volatility remains below normal as investors await the outcome of the FOMC meeting. The market is betting on the soft tone of the Fed's statements, so the prospects for a recovery in the dollar remain limited.

There is no important news in the economic calendar of Great Britain today, therefore the trades will be mainly influenced by the dollar.

 

In the US, the CB consumer confidence index is published today. The indicator is expected to grow from 109.7 to 113.0 points.

 

An uncertain situation remains on the chart. The price is in the middle of the range 1.3830-1.3940. From current positions, the price with equal probability can continue to move both up and down.

 

  • Resistance levels: 1.3940, 1.3980, 1.4000;

 

  • Support levels: 1.3830, 1.3757, 1.3660.

 

The main scenario is a decline to 1.3830.

 

An alternative scenario is growth to 1.3940.

 

The current fundamental background is neutral. We consider shorts from the level of 1.3940 and longs from the level of 1.3830.

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