The week's notable events are over. Next week's review will be published on Friday.
GBP/USD short-term review
If the currency exchange rate declines, it could once again look for support in the 1.3160 level, before approaching the 200-hour simple moving average near 1.3140. Further below, note the support zone at 1.3110/1.3130.On the other hand, a surge above the 1.3195/1.3210 zone might encounter resistance in the form of the 50-hour simple moving average at 1.3225, before approaching the 1.3250 level and the weekly R1 simple pivot point.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the GBP/USD has returned to the zone of the late 2021 low levels. The zone had acted as resistance during the previous week. If the pair resumes its surge, it could aim at the 50 and 100-day simple moving averages at 1.3400.Daily chart
Read More: Technical Analysis
Traders are long
Since Tuesday, traders were long, as 66% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 76% to buy the GBP against USD.
On Thursday, the open positions were 64% long and pending orders were 66% to buy.
Since Tuesday, traders were long, as 66% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 76% to buy the GBP against USD.
On Thursday, the open positions were 64% long and pending orders were 66% to buy.