This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job Openings could cause an adjustment in the value of the US Dollar at 15:00 GMT.
Afterwards, at 19:00 GMT, the release of the US Federal Open Markets Committee Meeting Minutes are set to impact the value of the US Dollar. The Meeting Minutes are set to reveal more details on the Federal Reserve's previous meeting and rate decision.
On Thursday, the US ADP Non-farm Employment Change might impact the value of the US Dollar at 13:15 GMT.
On Friday, The United States employment data release at 13:30 GMT is highly likely going to impact the US Dollar. Later on, at 15:00 GMT the ISM Services PMI is set to cause minor impact on the financial markets.
GBP/USD short-term view
A move below 1.2000 could look for support in the 1.1950 level and the weekly S1 simple pivot point at 1.1936. Further below, note the 1.1900 and 1.1850 levels.However, a potential surge above 1.2100/1.2125 might encounter resistance in the 1.2150 level and the weekly R1 simple pivot point at 1.2186.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has retreated to the support of the 1.2000 mark. The 1.2000 level is expected to soon be support by the 50 and 200-day simple moving averages. Meanwhile, the pair has broken the channel up pattern, which had guided it up since September 26.Daily chart
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Traders are neutral
On Monday, traders were neutral, as 51% of trader open position volume on the Swiss Foreign Exchange was in long positions and 49% was short.
In the meantime, pending orders in a 100-base point range around the pair were 50% to buy and sell the GBP/USD.
On Monday, traders were neutral, as 51% of trader open position volume on the Swiss Foreign Exchange was in long positions and 49% was short.
In the meantime, pending orders in a 100-base point range around the pair were 50% to buy and sell the GBP/USD.