Afterwards, a decline started, which was heading to the cluster of technical levels at 1.3040/1.3060. The zone was made up of previous high levels, the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages. Economic Calendar
GBP/USD short-term review If the pair reaches below the 1.3040/1.3060 zone, it might potentially look for support in the 1.3000 mark, before approaching the low level zone at 1.2980/1.2990.
On the other hand, a potential surge of the Pound against the US Dollar is expected to face resistance at 1.3150. Higher above, take into account the 1.3200 mark. Meanwhile, the currency pair has been ignoring the weekly R1 simple pivot point at 1.3138.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the GBP/USD has no additional support as low as the long term trend line, which is located below 1.2900.Daily chart
Read More: Technical Analysis
Long sentiment decreases
On Wednesday, traders were long, as 73% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 56% to buy the GBP/USD.
On Thursday, positions were 70% long and orders were 59% to buy.
On Wednesday, traders were long, as 73% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 56% to buy the GBP/USD.
On Thursday, positions were 70% long and orders were 59% to buy.