The GBP/USD exchange rate remains to trade below the psychological level at 1.3000.

It is likely that the currency pair could gain support from the 55-hour moving average near 1.2950 and extend gains within the following trading session. In this case the pair could target the 1.3050 mark.

However, if the given psychological level holds, it is likely that the British Pound could trade sideways against the US Dollar in the short term.

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