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. Manufacturing PMI's numbers may create directional effect on the FX pair.
GBP/USD hourly chart analysis
Sideways trading may be a trend in the short term. Trading range zone could be considered from 1.29700 to 1.28900. More fundamental data input needed for the market to asses correct, bullish or bearish direction.
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.