Yesterday, the GBP/USD exchange rate raised to the weekly R2 at 1.3216. During Friday morning, the rate drop to the weekly R1 at 1.3152.

It is likely that the currency pair could be pushed down by the 55– and 100-hour SMAs near 1.3180. In this case the pair could gain support from the weekly PP at 1.3079.

In the meantime, the exchange rate would have to surpass the 200-hour SMA near 1.3120. If the given moving average holds, it is likely that the rate could consolidate in the short run.

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