Economic Calendar
On Thursday, the weekly US Unemployment Claims could cause minor USD moves.
The week will end with the US Retail Sales data at 12:30 GMT.
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 case of a decline, the currency pair would most likely look for support in the 1.3800 mark. If the 1.3800 level's support fails, the weekly S1 simple pivot point at 1.3796 could immediately attempt to stop the rate's decline.Meanwhile, a surge above the 1.3870 level would most likely encounter resistance in the zone that surrounds the 1.3900 mark.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, 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 1.3800 mark before reaching for the March and April low levels and the 200-day simple moving average near 1.3675.
Daily chart
Read More: Technical Analysis
Traders remain short
On Wednesday, traders were short, as 56% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the sentiment was 55% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 65% to buy.
On Wednesday, traders were short, as 56% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the sentiment was 55% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 65% to buy.