Since Tuesday afternoon, the GBP/USD exchange rate has been testing the upper boundary of the rising wedge pattern.
From a theoretical point of view, it is likely that the currency pair could reverse south from the given pattern line and trade downwards within the following trading session.
In the meantime, note that the pair could gain support from the 55– and 100-hour SMAs near 1.3700. If the predetermined support holds, the rate could bounce off and breach the pattern north.
