The GBP/USD currency pair continued its downward movement on Tuesday. The situation in the currency market has become very interesting. The European currency has been effectively flat for four weeks, while the British pound initially rose by 400 pips and is now plummeting at the same speed.

The EUR/USD currency pair showed no interesting movements on Tuesday. With smiles on our faces, we watch as some experts explain the current price fluctuations, which can only be described as "convulsions." Almost every day, the volatility of the pair approaches minimal levels, indicating only one thing – there is no desire to trade in the market right now.

The EUR/USD currency pair traded very calmly on Thursday. On the 4-hour timeframe, it is clear that over the past three weeks, the euro has risen by only 140 pips. Thus, we have witnessed a prolonged correction, which will likely end with a new decline of the single European currency.

The GBP/USD currency pair retraced slightly from the day-before highs but remains generally positioned for further growth. Over the past few weeks, the British currency has risen by 400 pips and is trading quite reasonably.

The GBP/USD currency pair surged upward on Wednesday for no apparent reason. On Tuesday, the pound also exhibited volatility of more than 100 pips, which can be easily explained by a resonant inflation report. Traders expected U.S. inflation to slow to 3.8%, but the actual figure was 3.5%.