Apparently, a rehearsal of what should happen today was seen yesterday morning. In theory, some kind of stagnation can be expected since the macroeconomic calendar was completely empty. At the same time, the US inflation data will be published today, so it would be logical to observe just a strong sideways movement. Before the publication of the important data, investors will clearly be very careful and will avoid sharp movements. The trading day began with a slight increase in the US dollar, but everything returned where it started since the opening of the US session. In turn, the pound somewhat stood out, which declined much more actively.

But everything is quite simple here. The pound is under pressure from the ever-worsening epidemiological situation in the United Kingdom. In this case, today's inflation data in the US should show a slowdown from 5.0% to 4.9%. This will mean that the increase in inflation was really temporary, and so, cannot threaten the economic recovery. Naturally, this is an extremely positive factor for the US dollar. It is for this reason that we can say that something like a rehearsal was observed yesterday. Moreover, we can say that the scale of the dollar's growth today will be slightly larger than yesterday and without a subsequent return to the original values.

Inflation (United States):

The EUR/USD pair has the effect of slowing down after the correction, where the price levels of 1.1880/1.1890 act as a resistance area. If the price is kept below the level of 1.1840, the downward movement may continue towards the support level of 1.1800.

Moving according to a correctional pattern from the pivot point of 1.3730, the GBP/USD pair encountered the resistance level of 1.3900, relative to which a stagnation-pullback occurred. Traders still consider a rebound from the 1.3900 level, which may lead to an increase in the volume of short positions, restoring the US dollar's rate against the British pound.