Since Tuesday, the GBP/USD exchange rate has been trading sideways between the weekly S1 and the weekly PP, located at 1.3329 and 1.3477 respectively.
Given that the currency pair is pressured by the 100-hour moving average near 1.3450, it is likely that some downside potential could prevail in the market in the short term.
In the meantime, if the predetermined levels hold, the British Pound could continue to trade sideways the US Dollar within the following trading session.
