On Friday, note the US ISM Manufacturing PMI at 14:00 GMT.
Next week, 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
If the rate extends its decline, it could look for support in the 1.2050 mark, prior to reaching the 1.2000 level and the weekly S3 simple pivot point at 1.2010. However, note that the rate has been mostly ignoring the simple pivot points during the ongoing decline.On the other hand, a potential recovery of the currency pair might encounter resistance in the 1.2100 mark and the zone, which surrounds it.
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
Traders go long
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 Thursday, open positions were 51% long and pending orders were 58% to sell.
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 Thursday, open positions were 51% long and pending orders were 58% to sell.