Bearish sentiment pressured the GBP/USD currency pair on Tuesday. As a result, the British Pound sank by 114 pips or 0.83% against the US Dollar during Tuesday’s trading session.
The exchange rate bounced off the lower line of a descending channel pattern at 1.3725 during the Asian session on Wednesday. Most likely, buyers could drive the price higher today.
However, technical indicators suggest that the currency exchange rate might edge lower within this session.
