On Thursday, the US ADP Non-farm Employment Change might impact the value of the US Dollar at 13:15 GMT.
On Friday, The United States employment data release at 13:30 GMT is highly likely going to impact the US Dollar. Later on, at 15:00 GMT the ISM Services PMI is set to cause minor impact on the financial markets.
GBP/USD short-term view
A move above the 1.2089 level is expected to encounter resistance in the 1.2100/1.2125 zone. A move above 1.2125 could encounter resistance in 1.2150 and the weekly R1 simple pivot point at 1.2186.However, a decline below 1.2000/1.20025 might find support in the 1.1950 level, the weekly S1 simple pivot point at 1.1936, before reaching the Tuesday's support at 1.1900.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has pierced the support of the 50-day simple moving average. Meanwhile, the support of the 200-day SMA has been holding. Further below, note the support and resistance zone near the 1.1800 mark.Daily chart
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Traders go short
On Wednesday, traders were 53% short, as 53% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 51% to buy the GBP/USD.
On Tuesday, the sentiment was 53% long and pending orders were 52% to buy.
On Wednesday, traders were 53% short, as 53% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 51% to buy the GBP/USD.
On Tuesday, the sentiment was 53% long and pending orders were 52% to buy.