Yesterday, the GBP/USD exchange rate tumbled to the 200-hour SMA near 1.3100. During Thursday morning, the rate was trading near the given SMA.
From the one hand, it is likely that the currency pair could try to recover within the following trading session. Meanwhile, it is unlikely that the pair could exceed the weekly R2 at 1.3216.
On the other hand, it is likely that the exchange rate could trade sideways between the weekly PP and R1, located at 1.3079 and 1.3152, respectively.
