Economic Calendar
Higher levels of volatility may occur due to the GDP data release on the last day of the trading week.
GBP/USD hourly chart analysis
On the shorter time frames, the key resistance level at 1.36500 has been tested several times, with price action repeatedly failing to sustain a break above this level and subsequently retreating below 1.36000. If bullish momentum remains insufficient to secure a breakout above 1.36500, the pair may come under renewed pressure. In such a scenario, support around 1.35400 could be tested as sellers look to capitalize on the lack of upward drive.
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.