The British pound appreciated 0.33 % against the US Dollar since Wednesday’s session. During Thursday morning hours, the British pound was trading between the weekly R2 and the weekly R1 at the 1.3196 mark.

In regards to the near-term future, most likely, the rate should bounce off the upper boundary of the large descending pattern to trade at the 1.3160 level during the day.

However, today’s UK fundamental data sets may push the rate higher to break resistances to surge to the 1.3250 level on Thursday.

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