During the previous trading session, the GBP/USD exchange rate traded sideways around the 1.2580 level. No significant changes were observed during today’s morning.
Note, that the currency pair is pressured by the 55-hour SMA, currently located at the 1.2594 mark. Thus, it is likely, that some downside potential could prevail in the market, and the pair could decline to the support level—the monthly S1 a 1.2545.
On the other hand, the rate could continue to trade sideways in the nearest future within the cluster formed by the psychological level at 1.2560 and the weekly S2 at 1.2594.
