The British pound depreciated 0.20% against the US Dollar since Friday’s session. On Monday morning, the rate was located above the monthly PP at the 1.3046 mark.

In the near-term future, most likely, the rate will surge upwards to the weekly PP at the 1.3083 mark but will bounce off it due to the resistance of the 55-hour simple moving average. It seems that the British pound will trade at the 1.3040 level during the session.

On the other side, the rate might break the weekly PP resistance and ignore the resistances of the simple moving averages to trade at 1.3100 level on Monday.

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