Looking at the pound, you can't help but feel the absurdity of the situation. If you open the British press, the most discussed topic is the consequences of Brexit in the form of incredibly increased bureaucratic barriers. Naturally, when exporting goods or services to the European Union. In general, British business is clearly dissatisfied with the trade agreement that London signed at the very end of last year. And this is superimposed on the extremely severe consequences for the economy of the coronavirus epidemic. Then, business was concerned about the fact that from April, a new British standard will come into force, which will significantly restrict the import of goods from the territory of the European Union, and many seriously talked about the fact that the UK will inevitably face a shortage of a number of products. Representatives of small and medium-sized businesses are most concerned about this issue. Especially all kinds of shops, bars and restaurants. But the pound continues to grow stubbornly. It really feels like some kind of surrealism. The fact that the pound is overbought is already obvious even to infants, but there is not a single hint of even an attempt at correction, which should correct the ever-increasing imbalances. And the longer it goes on, the more painful it will be in the future. It is quite possible that in the end, there will be a sudden collapse of the pound for which many simply will not be ready. And the risks of such a development are increasing day by day. It really feels like some kind of surrealism. The fact that the pound is overbought is already obvious even to infants, but there is not a single hint of even an attempt at correction, which should correct the ever-increasing imbalances. And the longer it goes on, the more painful it will be in the future. It is quite possible that in the end, there will be a sudden collapse of the pound for which many simply will not be ready. And the risks of such a development are increasing day by day. It really feels like some kind of surrealism. The fact that the pound is overbought is already obvious even to infants, but there is not a single hint of even an attempt at correction, which should correct the ever-increasing imbalances. And the longer it goes on, the more painful it will be in the future. It is quite possible that in the end, there will be a sudden collapse of the pound for which many simply will not be ready. And the risks of such a development are increasing day by day. there will be a sudden collapse of the pound for which many simply will not be ready. And the risks of such a development are increasing day by day. there will be a sudden collapse of the pound for which many simply will not be ready. And the risks of such a development are increasing day by day.

But with the single European currency, everything is relatively clear. After the completion of the local correction, it simply stood in place, waiting for a reason to resume the downward movement. Unfortunately, the final data on inflation in the United States, which should have been the very reason, did not meet the expectations placed on them. In a treacherous way, the final data coincided with the preliminary estimate, and inflation remained unchanged. But the market has long put this in the value of the dollar. There were suggestions that inflation would still accelerate from 1.4% to 1.5%. But it didn't work out. So, the single European currency just stood still on the spot.

Inflation (United States):

But it is very standing still indicating that the market is just waiting for the right reason to resume the growth of the dollar. At least in relation to the single European currency. So today's data on jobless claims may help the dollar. Whatever one may say, but we are talking about the further recovery of the labor market, without which it is impossible to restore the economy. So, the number of initial applications for unemployment benefits should be reduced by 29 thousand, which, of course, is not much. But the number of repeated requests should decrease by 142 thousand, which is quite good. However, this applies only to the single European currency, while the pound, apparently, will stand still at best. We need more serious reasons than applications for benefits to return it to adequacy ..

Number of repeated applications for unemployment benefits (United States):

The EUR USD currency pair, after a three-day upward move from the support point of 1.1950, reached the area of interaction of trading forces of 1.2130 / 1.2160, where there was a stop and, as a result, there's a consolidation in the range of 1.2112 / 1.2144. We can assume that the stagnation in the narrow framework of consolidation will not last long, in the near future we will accelerate, where the most optimal trading tactic is considered to be the method of breaking a particular border.

The GBP USD currency pair continues to update the local maximum of the medium-term trend, where this time the 1.3865 level was touched. The overbought status of the pound has a very high level, it is enough for a minor impact on the market to cause a technical correction, but speculators rule the market, which leads to an unjustified increase in the value of the British currency.