During the first half of Tuesday’s trading session, the GBP/USD currency pair declined by 58 pips or 0.41%. The exchange rate rebounded from the lower boundary of an ascending channel pattern at the end of the day.
By and large, the British Pound could continue to trend higher during the following trading session. A breakout through the upper line of the channel pattern could occur.
However, if the ascending channel holds, bearish traders could pressure the currency exchange rate lower in this session.
