In the meantime, the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point appeared to be ignored by the exchange pair. Economic Calendar
On Friday, at 06:00 GMT the value of the GBP could adjust to the UK Retail Sales data release.
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 further decline of the Pound against the US Dollar might look for support in the 1.3000 mark and the April low level zone at 1.2975/1.2990.Meanwhile, a move above the 1.3080 level is expected to encounter resistance in the 1.3100 level, prior to approaching the weekly R1 simple pivot point and the resistance zone at 1.3140/1.3147.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the March and April low level zone has been marked. Most recently, it continued to provide support.Daily chart
Read More: Technical Analysis
Traders are mostly long
On Wednesday, traders were long, as 70% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 51% to buy the GBP/USD.
On Thursday, the positions were 71% to buy and orders were 53% to buy.
On Wednesday, traders were long, as 70% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 51% to buy the GBP/USD.
On Thursday, the positions were 71% to buy and orders were 53% to buy.