Economic Calendar
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 The exchange rate is currently trading near the upper line of the channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the weekly resistance level at 1.3935 could be expected within this session.
However, if the 200– hour simple moving average at 1.3886 could provide resistance for the GBP/USD 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 Wednesday, the Swiss Foreign Exchange traders were 63% bearish.
On Thursday, the sentiment was 65% short.
Meanwhile, in the 100-pip range around the rate, the pending orders were 52% to sell.
On Wednesday, the Swiss Foreign Exchange traders were 63% bearish.
On Thursday, the sentiment was 65% short.
Meanwhile, in the 100-pip range around the rate, the pending orders were 52% to sell.