Economic Calendar
On Tuesday, the US ISM Services Purchasing Managers Index release at 14:00 GMT could cause a minor move on USD pairs. However, note that during most times the event does not cause an increase of volatility.
On Wednesday, at 18:00 GMT, the Federal Open Market Committee is set to publish its Meeting Minutes. Note that it will be just the meeting minutes for the previous meeting. There is no rate announcement or statement being published. Namely, the meeting minutes will have more detailed information about the previous decision of the Federal Reserve.
On Thursday, the US Unemployment Claims at 12:30 GMT could cause a minor move on USD pair and commodity price charts.
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
In theory, the pair should decline, as it has no technical support as low as the 1.3677 level, where the weekly S2 simple pivot point was located at. However, support could be provided by round exchange rate levels like the 1.3740, 1.3720 and most importantly the 1.3700 mark.Meanwhile, a potential recovery of the GBP against the USD could find resistance in the weekly S1 at 1.3782, the previous June low level near 1.3790 and the 55-hour simple moving average, which was approaching from above. If these levels fail to provide resistance, the pair might further reach for the 100-hour SMA and the 1.3820 level.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the currency exchange rate has passed the 1.3800 mark's support.In the near term future a decline to the support of the March and April low levels and the 200-day simple moving averages is expected.
Daily chart
Read More: Technical Analysis
Traders are neutral
On Friday, traders were neutral, as 52% of trader open position volume on the Swiss Foreign Exchange was in long positions.
On Thursday, the sentiment was 52% short.
Meanwhile, on Friday, in the 100-pip range around the rate the pending orders were 69% to buy.
On Friday, traders were neutral, as 52% of trader open position volume on the Swiss Foreign Exchange was in long positions.
On Thursday, the sentiment was 52% short.
Meanwhile, on Friday, in the 100-pip range around the rate the pending orders were 69% to buy.