On Thursday, the British Pound fell by 66 pips or 0.48% against the US Dollar. A breakout occurred through the lower boundary of an ascending channel pattern during Thursday’s trading session.
Given that a breakout has occurred, sellers are likely to continue to pressure the exchange rate lower during the following trading session. The potential target for bearish traders will be near the 1.3620 area.
On the other hand, the GBP/USD currency exchange rate could reverse from the current price level at 1.3694 within this session.
