On Monday, the US ISM Manufacturing PMI release at 14:00 GMT could cause a move in the US Dollar.
On Wednesday, the US ADP Non-Farm Employment change at 12:15 GMT might impact the USD. Afterwards, at 14:00 GMT note the ISM Services PMI release.
Above all, on Friday, at 12:30 GMT, the United States will publish the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate.
GBP/USD short-term view
A surge of the pair above 1.2400 would have to pass the weekly R2 simple pivot point, before approaching the 1.2500 mark. Note that the pivot points are set to be recalculated on Monday.On the other hand, a decline below 1.2360 could find support in the 50 and 100-hour simple moving averages near 1.2350 and 1.2330. Further below, note the 1.2300 mark and the 200-hour SMA. Meanwhile, the pair has ignored the weekly R1 simple pivot point at 1.2325.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair faces the resistance zone of the 2023 high levels at 1.2300/1.2450.Daily chart
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Traders are short on GBP/USD
On Friday, traders were 66% bearish, as 66% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 60% to sell the GBP/USD.
On Friday, traders were 66% bearish, as 66% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 60% to sell the GBP/USD.