On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor USD move.
On Friday, at 06:00 GMT the value of the GBP could adjust to the UK Retail Sales data release.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
If the recovery of the Pound against the US Dollar continues, the currency pair might first find resistance in the 1.3100 mark, before approaching the weekly R1 simple pivot point and the resistance zone at 1.3140/1.3147.Meanwhile, a potential decline of the GBP/USD currency exchange rate might look for support in the 1.3040 mark, which is supported by the 100 and 200-hour simple moving averages. Further below, note the combination of the 1.3020 level and the 50-hour simple moving average, and the 1.3100 mark.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the March and April low level zone has been marked. Most recently, it continued to provide support.Daily chart
Read More: Technical Analysis
Traders are mostly long
On Wednesday, traders were long, as 70% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 51% to buy the GBP/USD.
On Wednesday, traders were long, as 70% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 51% to buy the GBP/USD.