Yesterday, the GBP/USD exchange rate breached the rising wedge pattern south.
It is likely that the currency pair could extend gains in the short term, as it is supported by the 200-hour moving average near 1.3545. A possible upside target is the psychological level at 1.3700.
Meanwhile, note that the pair could face the resistance provided by the 55-hour moving average near 1.3630. Thus, the rate could trade sideways, supported by the weekly S1 at 1.3508.
