Economic Calendar
On Thursday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price Index data is set to be released together with the US Unemployment Claims. Namely, all US pairs and assets are expected to react to the news.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
If the Pound declines against the US Dollar below the 1.3100 mark, the rate could look for support in the 1.3050 level and the weekly S2 simple pivot point at 1.3049. Further below, take into account the 1.3000 mark and the lower trend line of the February channel down pattern.However, a recovery of the currency exchange rate would have to pass the weekly S1 simple pivot point at 1.3131, before testing the resistance of the 1.3150 mark, the 50-hour simple moving average and the zone at 1.3162/1.3175.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has pierced the support levels of the 2021 low levels. Below the support zone, there is no close by technical support as low as the lower trend line of a large scale channel down pattern near 1.2950.Daily chart
Read More: Technical Analysis
Long sentiment increases
On Tuesday, traders were long, as 66% 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 55% to buy the GBP against USD.
On Monday, 64% of volume was long and pending orders were 51% to buy.
On Tuesday, traders were long, as 66% 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 55% to buy the GBP against USD.
On Monday, 64% of volume was long and pending orders were 51% to buy.