Economic Calendar
Next week, on Monday, the US ISM Manufacturing PMI could cause a move. The GBP/USD has moved 11.5 to 21.6 pips on the release since March 1.
On Wednesday, at 14:00 GMT, the US ISM Non-Manufacturing PMIs is set to be released. The GBP/USD has moved 8.9 to 18.2 pips on the release.
On Thursday, the top event for the GBP is scheduled. At 11:00 GMT, the Bank of England will announce its Asset Purchase Facility, Monetary Policy Report, MPC Asset Purchase Facility Votes, Monetary Policy Summary and the Official Bank Rate. Namely, everything associated with the supply side of the Pound will be revealed by the central bank.
The GBP/USD has moved from 23.6 to 71.8 base points immediately after the BoE announcements since the December 2020 publication.
The week will end with the Friday's release of the US employment data at 12:30 GMT. The event consists of the release of the US Average Hourly Earnings, US Non-farm Employment Change and US Unemployment Rate.
The rate has moved from 20.2 to 75.1 pips on the announcement.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
GBP/USD short-term review
The currency exchange rate could find support in the 55-hour simple moving average near 1.3920 and the weekly R2 simple pivot point at 1.3919. In addition, support could be provided by the previous July high zone above the 1.3900 mark.Meanwhile, take into account that a potential resumption of the surge would most likely encounter resistance, as it approaches the 1.4000 mark. Above the 1.4000, the pair could find resistance at 1.4050, which is strengthened by the weekly R3 simple pivot point.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the exchange rate has passed the resistance of the 1.3900 mark together with the 100-day simple moving average.Since Thursday, the rata was finding resistance in the 55-day simple moving average.
Daily chart
Read More: Technical Analysis
Short sentiment grows
Since Tuesday, traders were 60% bearish, as 60% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the sentiment was 65% short. On Friday, 68% was in short positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 71% to sell.
Since Tuesday, traders were 60% bearish, as 60% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the sentiment was 65% short. On Friday, 68% was in short positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 71% to sell.