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Dollar fell in price and then rebounded last Friday. A similar scenario happened yesterday due to the completely empty macroeconomic calendar.
Today, the situation may be different, as the first estimate of the eurozone's 4th quarter GDP will be published. Forecasts say it will increase from 0.0% to 0.1%, which will lead to a rise in euro, pulling pound along with it.
EUR/USD reached the support level of 1.0800, around which the volume of short positions decreased. As a result, a rebound occurred, temporarily slowing down the correction. A stabilization below the level of 1.0800 will provoke a further decline. Otherwise, the current rebound may continue.
GBP/USD continues to move within the range of 1.2600/1.2800, with recent attention focused on the middle level of 1.2700.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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