The British pound has strengthened to a five-week maximum and this is not the limit! The technical correction in this currency pair should be used for buying with the expectation of the growth of quotations in the area of the resistance level 1.3863. There are two reasons for buying now. Firstly, the expectations of rising interest rates on the part of the Bank of England are forcing investors to increase their purchases of the British currency.

Secondly, a strong uptrend in the oil market provides additional support to the pound, inasmuch as assets have historically been correlated with each other.

Trading recommendation: buy 1.3780/1.3750 and take profit 1.3863.