During Wednesday morning hours, the GBP/USD exchange rate raised to the 1.3520 level.
If the predetermined level holds, it is likely that the currency pair could reverse south in the nearest future. Note that the pair could face the support area formed by the 55-, 100– and 200-hour SMAs, as well the weekly R1 in the 1.3340/1.3431 range.
If the given support area holds, the exchange rate could reverse north. Otherwise, the rate could decline to the weekly PP located at the 1.3283 mark
