The GBP/USD currency exchange rate found resistance in the 1.3278/1.3300 zone and the 100-hour simple moving average.
Economic Calendar
On Thursday, a minor USD move could occur due to the weekly US Unemployment claims release at 13:30 GMT.
On Friday, the value of the US Dollar is most likely going to adjust to the publication of the US Consumer Price Index and Core Consumer Price Index changes at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
In the case that the rate declines, it could find support in the zone that connects the November 30 and December 3 low level zone. Below the zone, the weekly S1 simple pivot point at 1.3167 might stop a decline.Meanwhile, a recovery of the pair would have to pass the 1.3278/1.3300 zone before aiming at the weekly R1 simple pivot point at 1.3343.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the rate remains in the borders of the large scale channel down pattern. Note the lower trend line of the pattern near 1.3200.Daily chart
Read More: Technical Analysis
Traders are long
On Monday, traders were bullish, 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 55% to sell the GBP against USD.
On Friday, the sentiment was 64% long and orders were 76% to buy.
On Monday, traders were bullish, 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 55% to sell the GBP against USD.
On Friday, the sentiment was 64% long and orders were 76% to buy.