On Thursday, the GBP/USD exchange rate tested the 1.3020 level. During today's morning, the rate tested the resistance formed by the 55-hour SMA at 1.3087.
If the given resistance holds, it is likely that some downside potential could prevail in the market. In this case the currency pair could target the weekly S1 located at 1.2997.
It is unlikely that the some upside potential could prevail in the market due to the resistance cluster formed by the 100– and 200-hour SMAs, as well the weekly PP in the 1.3114/1.3141 range.
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