The GBP/USD exchange rate has surpassed the psychological level at 1.3550.
It is likely that the currency pair could face the resistance level—the weekly R2 at 1.3626. Thus, a reversal south could occur and the pair could decline to the support area formed by the 55-, 100– and 200-hour SMAs, as well the weekly R1 in the 1.3370/1.3461 range.
However, if the predetermined resistance level does not hold, some upside potential could continue to prevail in the market. In this case the exchange rate could target the weekly R3 at 1.3774.
