Yesterday, the GBP/USD exchange rate reversed south from the resistance level—the weekly R2 at 1.3626.
From the one hand, it is likely that the currency pair could gain support from the 100– and 200-hour SMAs in the 1.3500 area. Thus, the pair could try to exceed the given resistance in the short run.
On the other hand, it is likely that the exchange rate could be pushed down by the 55-hour SMA near 1.3540. In this case the rate could decline to the weekly PP located at 1.3283.
