During Friday’s trading session, the British Pound was trading sideways to end the trading session at the 1.3000 mark. On Monday morning, the British pound was supported by the 55– hour simple moving average to trade at the 1.2995 mark.
In regards to the near-term future, the British Pound will keep moving sideways to stay at the 1.3000 level. The 55-hour simple moving average will support the British Pound during the trading session on Monday.
On the other side, the British Pound could trade downside towards the monthly pivot point at the 1.2901 mark after today’s UK Services PMI data release at 9:30 GMT.
