Economic Calendar
On Thursday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price Index data is set to be released together with the US Unemployment Claims. Namely, all US pairs and assets are expected to react to the news.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
A surge above the 1.3200 mark might surge tot eh 1.3250 mark and the upper trend line of the channel down pattern, which has guided the rate since late February. Above these levels, note the weekly simple pivot point at 1.3284 and the 200-hour simple moving average.Meanwhile, a potential decline would have to pass the weekly S1 simple pivot point at 1.3131 and the 50-hour simple moving average. Below these levels, the 1.3084/1.3100 zone might once again stop a decline.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has passed the support levels of the 2021 low levels. Below the support zone, there is no close by technical support as low as the lower trend line of a large scale channel down pattern near 1.2950.During Wednesday's trading, it appeared that the pair was finding resistance in the previously passed 2021 low level zone.
Daily chart
Read More: Technical Analysis
Traders set up sell orders
On 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 55% to buy the GBP against USD.
On Wednesday, 67% of volume was long and pending orders were 58% to sell.
On 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 55% to buy the GBP against USD.
On Wednesday, 67% of volume was long and pending orders were 58% to sell.