At the end of the previous trading week, the GBP/USD exchange rate decreased to the psychological level at 1.2580.
On the one hand, the rate could continue to sharp losses, as it should reach the lower boundary of the short-term descending channel located circa 1.2530 within the following trading sessions.
On the other hand, some upside potential could prevail in the market in the short term, and the currency pair could reverse north from the given level. Note, that the rate is pressured by the 55-hour SMA and weekly PP at 1.2644.
