Watch out for the Wednesday's Federal Reserve's FOMC Meeting Minutes at 18:00 GMT.
On Thursday, the ADP Non-farm Employment Change might impact the markets through the value of the US Dollar.
On Friday, the United States are scheduled to release their monthly employment data at 12:30 GMT. Expect the data release to consist of the Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
GBP/USD short-term view
A continuation of the surge of the Pound against the US Dollar might test the resistance zone, which surrounds the 1.2200 mark and the 200-hour simple moving average. Higher above, note the 1.2250 level and the weekly R1 simple pivot point at 1.2290 together with the 1.2300 mark.On the other hand, a decline of the currency exchange rate could look for support first in the combination of the 100-hour simple moving average and the weekly simple pivot point at 1.2133. Further below, note the zone around the 1.2100 mark.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the rate continues to trade in a channel down pattern. Note the pattern's resistance near 1.2400 and the 50-day simple moving average.Daily chart
Read More: Technical Analysis
Long sentiment increases
On Friday, traders were neutral, 53% 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 52% to sell the GBP/USD.
On Monday, open positions were 56% long and pending orders were 57% to buy.
On Friday, traders were neutral, 53% 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 52% to sell the GBP/USD.
On Monday, open positions were 56% long and pending orders were 57% to buy.