During Tuesday’s trading session, the currency exchange rate was resisted by 200-hour simple moving average to end the trading session at the 1.2782 mark. During Wednesday morning hours, the British pound declined to trade at the 1.2793 mark.
In regards to the near-term future, in all likelihood, the British Pound will keep trading sideways to stay at the 1.2750 level during the trading session. Besides, the 55-hour and the 200-hour simple moving averages will resist the rate during the session.
On the other side, the British Pound could break the resistance of the simple moving averages to take its support to surge to the 1.2850 level.
