Yesterday, the GBP/USD exchange rate tried to surpass the 1.3240 mark. During Tuesday morning, the rate exceeded the given level.
It is likely that some upside potential could prevail in the market due to the support area formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3175/1.3208 range. The currency pair could face the resistance level—the weekly R1 at 1.3310.
In the meantime, if the predetermined support does not hold, some downside potential could prevail in the market, and the exchange rate could target the weekly S1 located at 1.3102.
