There are no more notable events scheduled for this week. Next week's review is set to be published on Monday.
GBP/USD short-term review
A decline of the Pound against the US Dollar might look for support in the 1.3000 mark and the April low level zone at 1.2975/1.2990.Meanwhile, a move above the 1.3080 level is expected to encounter resistance in the 1.3100 level, prior to approaching the weekly R1 simple pivot point and the resistance zone at 1.3140/1.3147.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the March and April low level zone has been marked. Most recently, it continued to provide support.Daily chart
Read More: Technical Analysis
Traders are mostly long
On Friday, traders were long, as 68% 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 74% to buy the GBP/USD.
On Thursday, the positions were 71% to buy and orders were 53% to buy.
On Friday, traders were long, as 68% 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 74% to buy the GBP/USD.
On Thursday, the positions were 71% to buy and orders were 53% to buy.