The GBP/USD exchange rate managed to raise the 1.3660 level.
It is likely that the currency pair could gain support from the 55– and 100-hour moving averages near 1.3620 and trade upwards within the following trading session. Note that the nearest resistance level—the weekly R1, is located at 1.3765.
In the meantime, it is unlikely that bears could prevail in the market in the short term, and the exchange rate could decline below the support level formed by the weekly S1 at 1.3508.
