On Thursday, the top event of the week will take place. The United States Consumer Price Index is scheduled to be published at 12:30 GMT.
On Friday, at 12:30 GMT, the US Retail Sales data could also impact the financial markets.
GBP/USD short-term view
A lower than expected inflation reading would result in a surge above 1.1175/1.1180, the 200-hour simple moving average, the 1.1200 mark and the weekly simple pivot point at 1.1215. Higher above, note the 1.1250, 1.1300 and 1.1350 levels.However, a higher than expected inflation is set to beat the GBP/USD down. The rate could look for support in the 50 and 100-hour simple moving averages near 1.1050, before reaching this week's low level at 1.0920/1.0935.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the 50-day simple moving average near 1.1550 is highly likely going to impact the rate. It could act as additional resistance, as it reaches lower.Daily chart
On Wednesday, traders were slightly bearish, as 54% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 50% to buy and sell the GBP/USD.
On Thursday, the positions were 56% short and orders were 57% to sell.