On Wednesday, the British Pound surged by 62 pips or 0.46% against the US Dollar. The currency pair breached the weekly resistance line at 1.3750 during Wednesday’s trading session.
All things being equal, the exchange rate could continue to trend higher in an ascending channel pattern during the following trading session. The potential target for the GBP/USD pair will be near the 1.3820 area.
However, technical indicators suggest selling signals on the daily time-frame chart. Most likely, the currency exchange rate could make a brief pullback within this session.
