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During Friday morning hours, the GBP/USD exchange rate pierced the weekly PP at 1.3694.

It is likely that the currency pair could gain support from the 55-, 100– and 200-hour SMAs in the 1.3650/1.3684 range. Thus, some upside potential could prevail in the market and the weekly R1 at 1.3779.

In the meantime, it is unlikely that bears could prevail in the market, and the exchange rate could decline below the 1.3560/1.3580 range within the following trading session.

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