A decline in quotes to the nearest support levels should be used to open longs for two reasons. Firstly, the US Treasury will be redeeming $42.9 billion of Treasury bonds this week, which will increase the amount of dollar liquidity in the financial system and have a negative influence on the value of the American currency.

Secondly, a bullish rally in the commodity market will have a positive influence on the value of the pound, inasmuch as the British currency has been historically correlated with energy resources.

Investment idea: Buy 1.3835/1.3810 and take profit 1.3896.