On Wednesday, the week's notable events will start at 07:00 GMT, as the UK Consumer Price Index is set to be published.
On Thursday, at 12:30 GMT, the US Durable Goods Orders, Core Durable Goods Orders and the weekly Unemployment Claims might cause minor moves on USD charts.
Week's notable events will end with the release of the US Manufacturing and Services PMIs at 13:45 GMT on Thursday.
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 Pound surges against the US Dollar, it would have to pass the resistance of the 50-hour simple moving average near the 1.3140 mark, before approaching the recent-high-level-connecting trend line. Higher above, note the weekly R1 simple pivot point at 1.3171 and the 1.3200 level.On the other hand, a decline of the currency exchange rate is most likely going to find support in the zone at 1.3080/1.3100. The previous high and low level zone is being strengthened by the 100 and 200-hour simple moving averages and the weekly simple pivot point.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair had reached above the 2019 low level zone, before the Bank of England beat the rate back down. The resistance zone has been updated on the chart.Daily chart
Read More: Technical Analysis
Traders are long
On Thursday, traders were long, as 72% 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 60% to buy the GBP against USD.
On Friday, the open positions were 70% long and pending orders were 54% to buy.
On Thursday, traders were long, as 72% 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 60% to buy the GBP against USD.
On Friday, the open positions were 70% long and pending orders were 54% to buy.