The situation on the GBP/USD chart has remained unchanged. The pair remains between the resistance of the 50 and 100-hour simple moving averages near 1.3210 and 1.3230 and the weekly S1 simple pivot point at 1.3167.
Economic Calendar
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. The pair has moved from 23.5 to 58.0 pips on the announcement.
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GBP/USD short-term review
The GBP/USD rate would most likely decline, if it passes the support of the weekly S1 simple pivot point. A move below the pivot point would have no support as low as the 1.3100 mark and the weekly S2 at 1.3093.Above the two SMAs, next close by resistance was the weekly simple pivot point at 1.3269, the 200-hour SMA at 1.3260 and this week's high levels above 1.3280.
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 1.3150.Daily chart
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Traders are long
On Friday, traders were bullish, as 68% 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 52% to buy the GBP against USD.
On Friday, traders were bullish, as 68% 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 52% to buy the GBP against USD.