Economic Calendar
On Tuesday, the US Consumer Price Index at 12:30 GMT is expected to impact all USD traded assets and currency pairs.
On Wednesday, at 06:00 GMT the UK Consumer Price Index is set to move all GBP pairs. On the same day, the US Producers Price Index at 12:30 GMT will impact the USD.
On Thursday, the weekly US Unemployment Claims could cause minor USD moves.
The week will end with the US Retail Sales data at 12:30 GMT.
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
Near the 1.3850 level, the rate could find support in the weekly simple pivot point at 1.3853 and the last week's significant zone near 1.3840. If these levels would be passed, the pair could reach the combined support of the 55, 100 and 200-hour simple moving averages near 1.3820.Meanwhile, a potential surge would once again test the resistance of the zone near 1.3900 before reaching the weekly R1 simple pivot point at 1.3963.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the recent US Dollar's decline had propelled the rate to the resistance of the 1.3900 mark.If the 1.3900 fails to provide resistance, the pair could reach the 100-day simple moving average near 1.3950 and, afterwards, the 1.4000 mark together with the 55-day SMA.
On the other hand, a potential decline could once again look for support in the 1.3800 mark before reaching for the March and April low levels and the 200-day simple moving average near 1.3675.
Daily chart
Read More: Technical Analysis
Traders go short
On Monday, traders were short, as 55% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 69% to buy.
On Monday, traders were short, as 55% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 69% to buy.