Yesterday, the GBP/USD exchange rate tested the resistance level formed by the weekly R2 at 1.2992. During Thursday morning, the rate pierced the given resistance.
Given that the currency pair is supported by the 55-hour moving average near 1.2945, it is likely that some upside potential could prevail in the market. In this case the pair would have to exceed the monthly R2 at 1.3051.
Meanwhile, if the predetermined resistance holds, it is likely that the British Pound could consolidate against the US Dollar in the short term.
