On Friday, the rate could react to the Flash Manufacturing and Services PMI releases. UK data will be published at 08:30 GMT. US data will be out at 13:45 GMT.
GBP/USD short-term view
A move above 1.2850 could be stopped by the 1.2900 mark or the weekly R1 simple pivot point at 1.2948 and the 1.2950 level.On the other hand, a decline of the Pound against the US Dollar would look for support in the combination of the 200-hour simple moving average and the 1.2700 level. Further below, note 1.2650 and 1.2600 levels.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has passed above the 1.2610/1.2670 range. This range stopped the pair's recovery in May. In the near term future, the rate could find support in this range.Daily chart
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Traders are short
On Thursday, traders were 61% bearish, as 61% 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 55% to buy the GBP/USD.
On Thursday, traders were 61% bearish, as 61% 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 55% to buy the GBP/USD.