The British pound dropped 1.08% against the US Dollar since Friday’s session due to fundamentals. The currency exchange rate went down passing through the most technical indicators, located at the 1.3100 level on Monday.
In the near-term future, the rate should move downwards to trade in the 1.3050 area due to the resistance of the 200-hour simple moving average and other influential technical indicators, which are located between the 1.3200 level and the 1.3140 level.
Besides, the 55– hour and the 100-hour simple moving averages will try to catch up the rate during the trading session.
