On Friday morning, the pair declined to the 200-hour simple moving average near 1.3160. Form that level a recovery back up to the 1.3200 level occurred. However, note that the 1.3160 level acted as support on its own on Thursday. Economic Calendar
There are nine sets of data being released this week, which might cause an impact on currency valuations. Five of the nine are US employment datasets.
The week's notable publications will start on Wednesday at 13:15 GMT, as the ADP Non-Farm Employment Change is set to be published.
Also on Wednesday, at 13:30 GMT, the US Final GDP might cause minor USD moves.
On Thursday, at 13:30 GMT, minor US Dollar moves could occur due to the publication of the weekly US Unemployment Claims.
The top event of the week will occur on Friday, as at 13:30 GMT the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to be published.
The week's events are scheduled to end at 15:00 GMT with the publication of the US Institute for Supply Management Manufacturing Purchasing Managers Index survey results.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
If the currency exchange rate declines, it would highly likely find support in the 1.3160 mark and the 200-hour simple moving average. Further below, note the support zone at 1.3110/1.3130.On the other hand, a recovery of the Pound against the US Dollar would first have to pass the 1.3200 mark, before approaching the 1.3220 level and the weekly R1 simple pivot point at 1.3248.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the GBP/USD has returned to the zone of the late 2021 low levels. The zone had acted as resistance during the previous week. If the pair resumes its surge, it could aim at the 50 and 100-day simple moving averages at 1.3400.Daily chart
Read More: Technical Analysis
Traders are long
Since Thursday, traders were long, as 64% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 60% to buy the GBP against USD.
Since Thursday, traders were long, as 64% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 60% to buy the GBP against USD.