On Tuesday, the US ISM Services Purchasing Managers Index survey results are expected to impact the value of the US Dollar and all pairs that include the USD.
During the week, almost all attention will be paid to the US Federal Reserve Federal Open Market Committee Meeting Minutes on Wednesday at 19:00 GMT.
The meeting minutes are a protocol of the central bank's committee, which decides US and, subsequently, global monetary policy. The document is set to reveal, what the committee talked about and detailed information about their future plans.
On Thursday, a minor USD move might be created by the publication of the weekly US Unemployment Claims data at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
In the near term future, a potential decline of the Pound against the US Dollar would most likely look for support in the last week's low level zone at 1.3052/1.3071. Below the zone, the 1.3050 mark and the weekly S1 simple pivot point might slow down a decline, before it reaches the 1.3000 level.However, a recovery of the British currency, compared to the USD, is slightly likely set to encounter resistance in the form of the 50 and 100-hour simple moving averages near 1.3125. Higher above, take into account the trend line, which connects the recent high levels of the pair and the 200-hour simple moving average near 1.3145.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the GBP/USD has passed below the support zone at 1.3160/1.3210. Meanwhile, note the March low level at 1.3000.Daily chart
Read More: Technical Analysis
Traders remain long
On Monday, traders were long, as 60% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 52% to buy the GBP/USD.
On Friday, the open positions were 60% long. Meanwhile, in the 100-pip range around the rate the pending orders were 53% to buy the GBP against USD.
On Monday, traders were long, as 60% of trader open position volume on the Swiss Foreign Exchange was in long positions.
In the meantime, pending orders in a 100-base point range around the pair were 52% to buy the GBP/USD.
On Friday, the open positions were 60% long. Meanwhile, in the 100-pip range around the rate the pending orders were 53% to buy the GBP against USD.