GBP/USD Trades Within Ascending Channel

During Friday morning hours, the GBP/USD exchange rate has reversed north from the weekly R1 at 1.3049.

It is likely that some upside potential could prevail in the market, and the currency pair could re-test the upper line of the medium-term ascending channel circa 1.3200.

However, from the theoretical perspective, it is likely that some downside potential could prevail in the market, and the exchange rate could re-test the lower channel line located circa 1.2960.