Economic Calendar
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
All things being equal, the currency pair could continue to edge lower during the following trading session. The potential target for bearish traders would be near the weekly S3 at 1.3567.However, the weekly support level at 1.3664 could provide support for the currency exchange rate in the shorter term.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the exchange rate continues to test 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 1.3935 and, afterwards, the 1.4000 mark together with the 55-day SMA.
Though, a potential decline could once again look for support in the 1.3700 mark before reaching for the March and April low levels near the 1.3600 level.
Daily chart
Read More: Technical Analysis
Traders go long
On Monday, traders were short, as 52% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Tuesday, the market sentiment was 53% long.
Meanwhile, in the 100-pip range around the rate the pending orders were 68% to buy.
On Monday, traders were short, as 52% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Tuesday, the market sentiment was 53% long.
Meanwhile, in the 100-pip range around the rate the pending orders were 68% to buy.