On Tuesday, the British Pound declined by 116 pips or 0.84% against the US Dollar. The exchange rate breached the 55-, 100 and 200– hour SMAs during Tuesday’s trading session.
Everything being equal, the currency pair could continue to decline within the following trading session. The possible target for the GBP/USD pair will be near the 1.3733 area.
However, bearish traders might find support at 1.3780 during the following trading session.
