Yesterday, the GBP/USD exchange rate failed to exceed the psychological level at 1.3000. During Tuesday morning, the rate was testing the support provided by the 55-hour SMA at 1.2936.
If the given moving average holds, it is likely that the currency pair could try to surpass the given psychological level. If it does not hold, the pair could increase to the 1.3050 mark.
On the other hand, the British Pound could consolidate against the US Dollar in the short run near the Fibonacci 38.20% retracement at 1.2918. Also, note that the British Pound could be affected by the UK Parliament Brexit vote.
