The British pound appreciated 0.90. % against the US Dollar since Thursday’s session. The currency exchange pair broke the previously drawn medium pattern and the upper boundary of the large descending pattern to trade at the 1.3228 mark on Friday.
In the near-term future, the rate should move downwards to bounce off the upper boundary of the large pattern with the support of the 55-hour and the 200-hour simple moving averages to trade in the 1.3250 area during the day.
On the other hand, the rate may break the large channel again to trade near the monthly at R1 1.3185 on Friday.