Economic Calendar
High levels of volatility should be expected as U.K. and U.S report important economical data that could impact FX currency pair. Retail sales and gross domestic product numbers may create directional effect on the FX pair.
GBP/USD hourly chart analysis
Continuing previous week, sideways activity may persist in the short term trading within range from 1.28600 to 1.30000. Market participants may be awaiting key economic data or central bank decisions that could provide clearer directional signals.
Hourly Chart
GBP/USD daily candle chart analysis
Long-term bullishness could move the FX pair towards the 1.34000 price level once the 1.30000 resistance is passed. If Bearishness would occur, there may be wide range of sideways price moves.Read More: Technical Analysis
Traders are short
Continuing previous week, majority of traders expect a bearishness of the FX pair, driven by weak economic data or improving market conditions.