Yesterday, the GBP/USD exchange rate reversed north from the lower line of the short-term ascending channel.
From a theoretical point of view, it is likely that some upside potential could prevail in the market, as the currency pair should target the upper channel boundary within the following trading sessions.
Meanwhile, note that the pair could be pushed down by the 55– and 100-hour SMAs near 1.2925. Thus, a breakout south could occur, and the rate could target the weekly S1 at 1.2801.
