Yesterday, the GBP/USD exchange rate traded sideways in the 1.3350 area. During Wednesday morning, the rate jumped to 1.3450.
It is likely that some upside potential could continue to prevail in the market, as the currency pair could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3350/1.3425 range.
In the meantime, note that the pair could face the resistance at the psychological level at 1.3520. If the given level holds, a reversal south could follow and the rate could re-test the predetermined support
