Range is getting tighter on the GBP/USD

The GBP/USD on the daily chart has been consolidating around the 1.3200 level and the range has been getting tighter forming what it appears to be a symmetrical triangle. From this point on, the pair may break out in any direction, but usually these formations act as continuation patterns. If the breakout is to the upside, then the pair may find resistance around the 1.3532 level or the 55 day exponential moving average. If the breakout is to the downside, which in such case it would be called a breakdown, then the first support could be at the 1.3000 level, but a much better support could be the low at the 1.2800 level.