Economic Calendar
On Friday, the BOE Gov Bailey Speaks at 10:00 GMT could cause some move on GBP 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
Given that the 55-, 100– and 200– hour SMAs are above the price level, bearish traders could continue to drive the exchange rate lower during the following trading session.However, the GBP/USD currency exchange rate might find support at 1.3733 within this session.
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 long
On Thursday, traders were short, as 50% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Friday, the market sentiment was 51% long and 49% short.
Meanwhile, in the 100-pip range around the rate, the pending orders were 55% to buy.
On Thursday, traders were short, as 50% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Friday, the market sentiment was 51% long and 49% short.
Meanwhile, in the 100-pip range around the rate, the pending orders were 55% to buy.