Economic Calendar
On Tuesday, the US Prelim Nonfarm Productivity release at 12:30 GMT could cause a minor move on USD pairs. However, note that during most times the event does not cause an increase of volatility.
On Wednesday, at 12:30 GMT, the US Core Consumer Price Index is bound to cause USD volatility, which could impact the GBP/USD.
Afterwards, on Thursday, at 12:30 GMT, the US Producer Price Index is set to reveal more information about inflation in the United States.
GBP/USD short-term review Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the exchange rate could continue to edge lower during the following trading session.
However, the weekly support level at 1.3838 could still provide support for the currency exchange rate within this session.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the currency exchange rate has passed the 1.3900 mark's support.In the near term future a decline to the support of 200-day simple moving averages at 1.3760 is expected.
Daily chart
Read More: Technical Analysis
Traders are short on GBP/USD
On Monday, the Swiss Foreign Exchange traders were 66% short.
On Tuesday, the sentiment was 59% bearish.
Meanwhile, in the 100-pip range around the rate, the pending orders were 56% to buy.
On Monday, the Swiss Foreign Exchange traders were 66% short.
On Tuesday, the sentiment was 59% bearish.
Meanwhile, in the 100-pip range around the rate, the pending orders were 56% to buy.