Yesterday, the GBP/USD exchange rate raised to the 1.3160 level. During Thursday morning, the rate was testing the 1.3180 mark.
It is likely that some upside potential could prevail in the market, and the currency pair could try to exceed the resistance area formed by the 2020 high and the weekly R1 in the 1.3213/1.3244 range.
If the predetermined resistance holds, it is likely that a reversal south could follow. In this case the exchange rate could gain support from the 55– and 100-hour SMAs near 1.3100.
