For the Pound/Dollar instrument, the wave pattern continues to get confused. The supposed 4-5-5 wave, which looks pretty convincing judging by its size and construction speed, is complete. But the construction of the proposed wave 5-5-5 does not begin in any way. Instead, the pair continues to move more horizontally than upwards. By today or tomorrow, the minimum of the expected wave 4 can be updated, which will require adjustments to the current wave marking. I have already assumed that the entire upward trend section can be completed at the point that is now marked by the peak of the wave 3-5-5. The internal wave marking of this wave looks very complicated and there is no point in understanding it. Thus, the Pound/Dollar instrument is currently the least attractive instrument for trading.

The news background for the sterling at present is no better than for the euro. On Friday and Monday, almost no news of interest to the markets came from either America or the UK. Thus, the almost complete absence of a trend and not too high trading amplitude are a vivid reflection of what is happening now in the market. Today, Fed Chair Jerome Powell's previously unscheduled speech took place, but he spoke about digital assets, which is not very interesting for the participants of the foreign exchange market. Thus, Monday can be considered an absolutely empty day. But tomorrow, there will be some interesting events in the UK and the US that can force the markets to come out of hibernation.

In the UK, several fairly important reports will be released at once, which should be paid attention to. These are the unemployment rate, changes in the number of applications for unemployment, and changes in the level of average earnings. The bonus will include speeches by Andy Haldane, a member of the Bank of England's Monetary Committee, and Jon Cunliffe, Deputy Governor of the Bank of England. Such high-ranking functionaries can provide important information, with which there has recently been a clear shortage. And a little later, there will be a speech by the Governor of the Bank of England, Andrew Bailey, who can also provide important information. I will wait for optimistic statements from all three representatives of the Bank of England and strong economic data in the expectation of a resumption of the increase in the sterling, according to the current wave marking.

But this is not all that tomorrow has in store for us. Treasury Secretary Janet Yellen, Fed Chair Jerome Powell, and three members of the Fed's monetary committee, Raphael Bostic, Lael Brainard, and John Williams, will speak in the United States. So tomorrow, the markets may just be inundated with important information. The trading strategy is the same: before a successful attempt to break the low wave 4-5-5, I recommend buying an instrument with targets located around the 42nd figure for each new signal of the MACD indicator "up".

The part of the trend, originating on September 23, took a five-wave, fully completed form. But the internal wave structure of the supposed 5-5 wave still looks not entirely convincing and may require some additions and adjustments. The upward trend is nearing completion or has already been completed.