We open Buy positions when the British currency drops to the nearest support levels for two reasons. Firstly, a number of representatives of the Bank of England announced that the curtailment of the QE program in Britain will be earlier than planned earlier, inasmuch as high inflationary expectations do not allow the monetary authorities to stimulate the economy for too long. It is possible that in practice everything will look different, and the Bank of England will not rush to end the stimulus program, but the market is always alive with rumors, and rumors are now playing into the hands of the “bulls” of the pound.

Secondly, today the US Treasury will redeem $10 billion in Treasury bonds, and the Fed will buy $6 billion in bonds, which will increase the surplus of dollar liquidity in the banking system by $16 billion and will have a short-term negative influence on the value of the American currency.

Trading recommendation: Buy 1.3822/1.3790 and take profit 1.3888.