On Friday, the GBP/USD exchange rate raised to the 1.3220 level. During today’s morning, the rate reversed south.
It is likely that the currency pair could gain support from the 55– and 200-hour moving averages in the 1.3160 area and trade upwards in the short term. In this case the pair could target the 1.3280 mark.
Meanwhile, the exchange rate could be pushed down by the weekly PP and the 100-hour SMA near 1.3210. Thus, the rate could decline to the support level formed by the weekly S1 at 1.3102.
