On Tuesday, at 12:30 GMT, the US Consumer Price Index will reveal, how the US inflation has continued to grow, as some market analysts speculate that month-on-month inflation for consumers in the United States could soon hit the 1.00% mark. Expect the US Dollar's value to adjust to the news.
On Wednesday, at 06:00 GMT, the Pound is expected to adjust to the UK year-on-year Consumer Price Index data.
During the middle of Wednesday's trading, at 12:30 GMT, the US Producers Price Index data will reveal how prices have changed at the production level. Most likely, the USD is set to move due to the release.
On Thursday, 12:30 GMT, the US Retail Sales data and weekly Unemployment Claims are scheduled to impact the value of the US Dollar.
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 pair finds support in the 1.3000 mark and recovers, a potential recovery might encounter resistance in the previously passed 1.3050/1.3060 zone. Higher above, note that the hourly simple moving averages near 1.3070 and 1.3090 could act as resistance.Meanwhile, a move below 1.3000 would have no technical support on the hourly candle chart, except the weekly S2 simple pivot point at 1.2982.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the GBP/USD has no additional support as low as the long term trend line, which is located below 1.2900.Daily chart
Read More: Technical Analysis
Traders remain long
Since Tuesday, traders were long, as 57% of trader open position volume on the Swiss Foreign Exchange was in long positions.
On Friday, the open positions were 73% long, as short traders took profits and long positions were opened.
In the meantime, pending orders in a 100-base point range around the pair were 70% to buy the GBP/USD.
Since Tuesday, traders were long, as 57% of trader open position volume on the Swiss Foreign Exchange was in long positions.
On Friday, the open positions were 73% long, as short traders took profits and long positions were opened.
In the meantime, pending orders in a 100-base point range around the pair were 70% to buy the GBP/USD.