The British Pound plummeted by 110 pips or 0.80% against the US Dollar on Thursday. A breakout occurred through the lower boundary of a descending channel pattern during Thursday’s trading session.
Given that a breakout has occurred, sellers are likely to continue to drive the price lower during the following trading session. The potential target for bearish traders will be near the 1.3500 level.
However, the GBP/USD currency exchange rate could reverse from a psychological support level at 1.3600 within this session.
