Economic Calendar
The FX pair could see higher levels of volatility, as both the U.K. and the U.S. are set to release Manufacturing PMI numbers.
GBP/USD hourly chart analysis
In the near term, the 1.27500 price level could be tested if bullish momentum persists in the FX pair. If no bullish momentum occurs, price movement toward 1.26000 and below may be expected.
Hourly Chart
GBP/USD daily candle chart analysis
Long-term bullishness could move the FX pair towards the 1.30000 price level once the 1.28000 resistance is passed. If Bearishness would occur, there may be wide range of sideways price moves.Read More: Technical Analysis
Traders are long
Continuing previous week, majority of traders expect a bearishness of the FX pair, driven by weak economic data or improving market conditions.