During the previous trading session, the GBP/USD exchange rate traded sideways around the psychological level at 1.2130. During today’s morning, the rate continued to trade at the given level.
Note, that the currency pair is supported by the 200-hour moving average and the weekly PP at 1.2114. Thus, it is unlikely, that some downside potential could prevail in the market. However, if the given support does not hold, the rate could go downside.
It is likely, that the pair could trade sideways between the given support, as well the resistance level formed by the 55– and 100-hour SMAs, currently located at 1.2139.
