A decrease in quotes to the nearest support level is advisable to use to open Buy positions with the expectation of a continuation of the upward trend for two reasons. Firstly, low dollar rates on the interbank market in London indicate a surplus of dollar liquidity in the financial system, which is negative for the quotes of the American currency.

Secondly, we are seeing good energy demand against the background of disruptions in oil supplies from the Gulf of Mexico, which is beneficial for the pound, inasmuch as assets have been historically correlated with each other. Production of hydrocarbons in the Gulf of Mexico has almost stopped after the most powerful hurricane Ida and the recovery of production is expected only in a week, which pushes up oil prices.

Trading recommendation: Buy 1.3825/1.3800 and take profit 1.3866.