Economic Calendar
On Thursday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price Index data is set to be released together with the US Unemployment Claims. Namely, all US pairs and assets are expected to react to the news.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
A recovery of the Pound against the US Dollar could find resistance in the 1.3250 mark, which acted as resistance on Friday. Higher above, note the 1.3275 level, the 50-hour simple moving average and the weekly simple pivot point at 1.3284.On the other hand, a decline below 1.3150 might find support in the weekly S1 simple pivot point at 1.3131. Below the pivot point, the 1.3100 level could stop a depreciation of the Pound against the USD, before the weekly S2 simple pivot point at 1.3049 and the 1.3050 are reached.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has pierced the support levels of the 2021 low levels. Below the support zone, there is no close by technical support as low as the lower trend line of a large scale channel down pattern near 1.2950.In the meantime, note the resistance of the 50, 100 and 200-day simple moving averages at 1.3520, 1.3440 and 1.3580.
Daily chart
Read More: Technical Analysis
Long sentiment increases
On Friday, traders were long, as 56% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 83% to buy the GBP against USD.
On Monday, 64% of volume was long and pending orders were 51% to buy.
On Friday, traders were long, as 56% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 83% to buy the GBP against USD.
On Monday, 64% of volume was long and pending orders were 51% to buy.