The GBP/USD exchange rate continues to follow the rising wedge pattern.
It is likely that the currency pair could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3700 area and re-test the upper pattern line in the short term.
Note that it is unlikely that a breakout south could occur due to the resistance level—the weekly R1 located at 1.3779. The exchange rate could trade between the predetermined support and resistance in the nearest future.
