The GBP/USD exchange rate has revealed a medium-term ascending channel.
From a theoretical perspective, it is likely that the currency pair could target the lower channel line located circa 1.2960 within the following trading session.
Meanwhile, note that the pair could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly R1 and the PP in the 1.2995/1.3049 area. Thus, the rate could reverse north and target the weekly R2 at 1.3176.
