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
Read More: Technical Analysis
Traders become bearish
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.
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.