Economic Calendar
Further dollar weakness may lead to elevated volatility, especially in combination with upcoming fundamental data releases from both the United States and the United Kingdom.
GBP/USD hourly chart analysis
In the shorter time frame, the market is showing signs of slight bearishness, with a potential move toward the 1.34450 support level. This level may act as a near-term target if selling pressure continues. However, if a trend reversal occurs around or before reaching this support, buying momentum could return, leading to a possible push toward the 1.35400 resistance level.
Hourly Chart
GBP/USD daily candle chart analysis
Long-term bullishness could move the FX pair towards the 1.38000 price level once the 1.34300 resistance is passed. If Bearishness would occur, there may be wide range of sideways price moves.Read More: Technical Analysis
Traders are short
Continuing previous week trends majority of traders expect a bearishness of the FX pair, driven by weak economic data or improving market conditions.