During the first half of Friday’s trading session, The British Pound declined by 58 pips or 0.42% against the US Dollar. However, the exchange rate rebounded at the end of the day.
The currency pair breached the upper line of a descending channel pattern during the Asian session on Monday.
Most likely, the GBP/USD pair could continue to edge higher within the following trading session.
Though, the 100– hour simple moving average at 1.3912 could provide resistance for the currency exchange rate in the shorter term.
