Economic Calendar
On Thursday, the US Unemployment Claims at 12:30 GMT could cause a minor move on USD pair and commodity price charts.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
GBP/USD short-term review
Currently, the GBP/USD exchange rate is trading near the support level at 1.3772.If the support line holds, buyers could pressure the price higher during the following trading session.
However, if the currency exchange rate breaks the support level at 1.3772, the next target for bearish traders would be near the weekly S1 at 1.3733.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the recent US Dollar's decline had propelled the rate to the resistance of the 1.3900 mark.If the 1.3900 fails to provide resistance, the pair could reach the 100-day simple moving average near 1.3950 and, afterwards, the 1.4000 mark together with the 55-day SMA.
On the other hand, a potential decline could once again look for support in the 1.3800 mark before reaching for the March and April low levels and the 200-day simple moving average near 1.3675.
Daily chart
Read More: Technical Analysis
Traders go short
On Wednesday, traders were short, as 54% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the market sentiment was 50% short and 50% long.
Meanwhile, in the 100-pip range around the exchange rate, the pending orders were 52% to buy.
On Wednesday, traders were short, as 54% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the market sentiment was 50% short and 50% long.
Meanwhile, in the 100-pip range around the exchange rate, the pending orders were 52% to buy.