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 that the rate passes the resistance of the 1.3900 mark, the GBP/USD would find resistance in the 1.3950 mark and afterwards the weekly R1 simple pivot point at 1.3963.On the other hand, a hold out of the resistance could result in a decline to the support of the 55, 100 and 200-hour SMAs and the weekly simple pivot point in the 1.3830/1.3850 zone.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the recent US Dollar's decline had propelled the rate to 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 1.3950 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 Tuesday, the sentiment was 57% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 62% to sell.
On Wednesday, traders were short, as 56% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Tuesday, the sentiment was 57% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 62% to sell.