This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT.
On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing PMI caused a broad decline of the US Dollar.
Above all, on Friday, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to move the markets.
GBP/USD short-term view
An extension of the surge of the Pound against the US Dollar would have to break the resistance of the upper trend line of the channel up pattern, the 1.1450 mark and the weekly R1 simple pivot point at 1.1483. Higher above, note the 1.1500 and 1.1550 levels.On the other hand, a retracement downwards could look for support in the 1.1300 level, prior to reaching the combination of the 1.1250 level and the 50-hour simple moving average.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, it was previously assumed that the surge could encounter resistance in the 2020 March low level at 1.1415. On October 4, the level was acting as resistance. Meanwhile, take into account the approaching 50 and 100-day simple moving averages near 1.1625 and 1.1840.Daily chart
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Traders are neutral
On Monday, traders were slightly bullish, as 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 58% to sell the GBP/USD.
On Tuesday, open positions were 51% long and pending orders were 59% to sell.
On Monday, traders were slightly bullish, as 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 58% to sell the GBP/USD.
On Tuesday, open positions were 51% long and pending orders were 59% to sell.