Yesterday, the GBP/USD exchange rate touched the 1.2900 level. During Thursday morning, the rate was trading near 1.3050.
It is likely that the currency pair could gain support from the weekly S2 at 1.3007 and trade upwards in the short run. In this case the pair could face the resistance formed by the weekly and monthly S1s, as well the 100-hour SMA in the 1.3100 area.
However, if the predetermined resistance holds, it is likely that the British Pound could trade sideways against the US Dollar within the following trading session.
