Yesterday the GBP/USD currency pair re-tested the lower boundary of the medium-term ascending channel at 1.3014 and skyrocketed towards the Fibonacci 36.10% retracement at 1.3162.
From a technical perspective, it is unlikely, that the pair would go downside due to the support cluster formed by a combination of the 55-, 100– and 200-hour SMAs, as well the weekly and monthly PPs in the 1.3083/1.3138 range. However, it is expected, that the weekly R1 at 1.3213 would preclude the rate from rising.
Thus, it is likely, that the British Pound trades at the given Fibo 36.10% against the US Dollar.
