During the event, the pair pierced the support of the weekly S2 simple pivot point at 1.2635. Next target for the rate's decline is the 1.2590/1.2605 zone, which marks the July low levels. Economic Calendar
On Friday, at 12:30 GMT, the US employment data will impact the USD and all rates that involve it. The release will consist of the US Average Hourly Earnings change, Non-Farm Employment Change and the official Unemployment Rate.
GBP/USD short-term view
In the case of the rate declining below 1.2590, support might be found in the 1.2550 level and the combination of the weekly S3 simple pivot point at 1.2508 and the 1.2500 mark.However, a recovery of the Pound against the US Dollar is expected to encounter resistance in the 1.2700 mark, before reaching the combination of the weekly S1 simple pivot point at 1.2740, the 1.2750 level and the 50-hour simple moving average.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the rate has passed the support of the 1.2800 mark and the 50-day simple moving average. On Thursday, the GBP/USD reached the support zone above 1.2600 and the 100-day simple moving averages.Daily chart
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Traders are long
On Thursday, open GBP/USD positions by Swiss Foreign Exchange traders were 54% long.
Meanwhile, trader pending orders in the 100 pip range around the rate were 58% to buy.
On Thursday, open GBP/USD positions by Swiss Foreign Exchange traders were 54% long.
Meanwhile, trader pending orders in the 100 pip range around the rate were 58% to buy.