Economic Calendar
Click on the link below to find out more about the data releases of this and other currency exchange rates.
GBP/USD short-term review
In the near future, the currency exchange rate might pass the weekly support level near the 1.3720 mark. In this case scenario, bears could target the 1.3700 level within this session.On the other hand, the bearish traders might encounter support near the 1.3740 area today.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the exchange rate continues to test the resistance of the 1.3900 mark.If the 1.3900 fails to provide resistance, the pair could reach the 100-day simple moving average near 1.3935 and, afterwards, the 1.4000 mark together with the 55-day SMA.
On the other hand, a potential decline could once again look for support in the 1.3700 mark before reaching for the March and April low levels near the 1.3600 level.
Daily chart
Read More: Technical Analysis
Traders remain short
On Monday, traders were short, as 52% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Friday, the sentiment was 54% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 60% to buy.
On Monday, traders were short, as 52% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Friday, the sentiment was 54% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 60% to buy.