Above all, on Friday, at 12:30 GMT, the United States will publish the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate.
GBP/USD short-term view
A resumption of the surge of the Pound against the US Dollar would have to pass above the weekly R2 at 1.2527 and the 1.2550 and 1.2600 round exchange rate levels.In the case of a decline, the pair is most likely going to look for support in the 50-hour SMA and the 1.2450 level. Further below, note the 1.2400 mark, the weekly R1 at 1.2428 and the 100-hour simple moving average near 1.2400.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has passed the resistance zone of the 2023 high levels at 1.2300/1.2450. Higher above, the late 2022 high level zone could stop the pair at 1.2600.Daily chart
Read More: Technical Analysis
Traders are short on GBP/USD
On Wednesday, traders were 66% bearish, as 66% 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 63% to buy the GBP/USD.
On Wednesday, traders were 66% bearish, as 66% 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 63% to buy the GBP/USD.