Next week, the Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in the span from 08:15 up to 09:00 GMT.
On Wednesday, at 13:30 GMT, the financial markets might react to the US Durable Goods Orders and Unemployment Claims publication.
Later on, at 14:45 GMT, the Markit Services and Manufacturing Purchasing Managers Indices for the US could cause an adjustment of the US Dollar's value.
The day and the week's notable events will end with the release of the US Federal Reserve FOMC Meeting Minutes at 19:00 GMT. The Meeting Minutes are the protocol of the last US Fed meeting. New details might be in the file.
GBP/USD short-term view
A move higher could encounter resistance in the 1.2000 mark, before approaching the weekly R1 at 1.2026. Higher above, note that the 1.2100 and 1.2150 levels might slow down a surge.However, a decline of the Pound against the US Dollar below 1.1900 and the 50-hour SMA could look for support in the 100-hour simple moving average and the 1.1850 level.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has reached the resistance of the 200-day simple moving average. In the meantime, note that the 100-day SMA has been left behind near the 1.1600 mark.Daily chart
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Traders are short
This week, traders were bearish, as 62% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 56% to sell the GBP/USD.
This week, traders were bearish, as 62% of trader open position volume on the Swiss Foreign Exchange was in short positions.
In the meantime, pending orders in a 100-base point range around the pair were 56% to sell the GBP/USD.