From the opening of the European trading session, we should expect an increase in quotations of the British currency, inasmuch as the National Statistics Office of Great Britain will publish a release on inflation in Britain for April, which may delight investors with positive data against the background of rising wages and lower unemployment.

On the interbank market in London, a moderate increase in interest rates on loans in pounds is observed and after the publication of the inflation report, the growth of rates may continue, which will support the British currency. The pound today has a great chance to complete the trading day above the yearly maximum of 1.4236.

Trading recommendation: Buy 1.4175/1.4150 and take profit 1.4236.