On Friday, the British Pound declined by 63 pips or 0.45% against the US Dollar. The currency pair breached the 55-, 100– and 200– hour SMAs during Friday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The possible target for the GBP/JPY pair will be near the 1.3810 area.
However, the weekly support level at 1.3838 could provide support for the currency exchange rate within this session.
