The British pound appreciated 0.24% against the US Dollar since Friday’s session. During the previous session, the rate broke the monthly PP at 1.3038 and was resisted by the 55-hour SMA at 1.3060 to stop the trade at the 1.3054 mark. On Monday morning, the rate broke the resistance of the 55-hour SMA to trade at the 1.3079 mark.
n regards to the near-term future, most likely, the British pound will trade between the weekly pivot point at 1.3405 and the monthly pivot point at 1.3038 due to a lack of any fundamental news during the trading session.
In addition, the 55-hour simple moving average will try to support the rate at 1.3050 level on Monday.
