Economic Calendar
Elevated levels of volatility may occur this week, considering that both UK and U.S. will be presenting economic data that may have significance in the FX valuation.
GBP/USD hourly chart analysis
Near term may bring bullishness due to recent reversal, possibly moving towards 1.27000. However weaker dollar may see higher FX pair value, going back to 1.3000 levels.
Hourly Chart
GBP/USD daily candle chart analysis
Long-term bullishness could move the FX pair towards the 1.34000 price level once the 1.30000 resistance is passed. If Bearishness would occur, there may be wide range of sideways price moves.Read More: Technical Analysis
Traders are short
Majority of traders expect a bearishness of the FX pair, driven by weak economic data or improving market conditions.