GBP/USD Could Go Upwards

Yesterday, the GBP/USD exchange rate raised to the psychological level at 1.3500.

It is likely that the currency pair could gain support from the 55-, 100– and 200-hour SMAs in the 1.3370/1.3410 range and trade upwards in the short term.

In the meantime, note that the pair could face the resistance level—the weekly R3 at 1.3526. If the given level holds, a reversal south could follow. Otherwise, the rate could target 1.3560/1.3580.