On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to make purchases in the market.
On Wednesday, at 06:00 GMT, the UK Consumer Price Index data will reveal how inflation had changed in the UK during April.
To see historical move tables click on the link below.
GBP/USD short-term review
A bounce off from the resistance might look for support in the 50-hour simple moving average and the 1.2200 level, prior to reaching the 1.2155/1.2165 zone. Below the support zone, the 1.2100 mark might stop a potential decline.Meanwhile, a surge above 1.2250/1.2255 could encounter resistance in the 2020 July low level at 1.2260 and the 100-hour simple moving average.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the rate has passed below the 2020 July low level at 1.2260. Below this level, take into account the 2020 May low at 1.2075.Daily chart
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Traders are mostly long
Since Thursday, traders were 71% bullish, as 71% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 67% to sell the GBP/USD.
Since Thursday, traders were 71% bullish, as 71% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 67% to sell the GBP/USD.