During the first half of Tuesday’s trading session, the British Pound rose by 51 pips or 0.37% against the US Dollar. Although, the GBP/USD pair abandoned the earlier gains by the end of yesterday’s session.
Everything being equal, the exchange rate could edge higher during the following trading session. The potential target for bullish traders will be near the weekly R1 at 1.4015.
However, given that the currency exchange rate has breached the lower line of an ascending channel pattern, sellers might pressure the currency pair lower within this session.
