With the opening of the European trading session, the UK will publish a report on the labor market for January, which will not be able to delight investors with positive data against the background of the coronavirus pandemic. In the middle of winter, the UK saw the rapid spread of COVID-19, prompting authorities to impose tough lockdowns in several areas of the United Kingdom.

Against this background, the pound may fall under a short-term wave of sales. I do not expect a strong decline in quotations and I think that the technical correction should be used for buying the pound, inasmuch as the surplus of dollar liquidity in the interbank market is still high and this factor will have a negative influence on the dollar value.

Investment idea: Buy 1.3820/1.3800 and take profit 1.3910.