Yesterday, the GBP/USD exchange rate raised to the 1.2950 level. During Wednesday morning, the rate exceeded the given level.
It is likely that the currency pair could face the resistance level formed by the weekly R2 at 1.2992. Thus, a reversal south could occur, and the pair could test the support formed by the 55-hour SMA and the weekly R1 at 1.2893.
If the given resistance does not hold, it is likely that the exchange rate could raise to the monthly R2 located at the 1.3051 mark
