Yesterday, the GBP/USD exchange rate reversed south from the psychological level at 1.3180. During Friday morning, the rate was trading at 1.3090.

It is likely that the currency pair could be pressured by the 100-hour SMA near 1.3100 and trade downwards in the short run. In this case the pair could target the weekly PP at 1.3013.

In the meantime, it is likely that the exchange rate could gain support from the 200-hour SMA near 1.3060. If the given support holds, it is likely that the rate could consolidate.

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