Economic Calendar
On Thursday, the US Advance GDP at 12:30 GMT is bound to move the US Dollar's value. The pair has moved 9.6 to 21.8 pips on the release since April 29, 2020. In addition, at the same time the US Unemployment Claims could cause volatility.
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
If the rate reaches and passes the resistance of the 1.4000 mark, the pair, in theory, should reach for the combined resistance of the 1.4050 mark and the weekly R3 simple pivot point at the same exact level.However, if the 1.4000 mark holds, as it did in late June, the pair could look for support in the 1.3900 level and trade sideways until it is approached by the 55 and 100-hour simple moving averages from below.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the exchange rate has passed the resistance of the 1.3900 mark together with the 100-day simple moving average.On Thursday, the rata was finding resistance in the 55-day simple moving average, which had declined to the 1.3958 level.
Daily chart
Read More: Technical Analysis
Short sentiment grows
Since Tuesday, traders were 60% bearish, as 60% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Thursday, the sentiment was 65% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 77% to sell.
On Thursday, the sentiment was 65% short.
Meanwhile, in the 100-pip range around the rate the pending orders were 77% to sell.