On Tuesday morning, the currency exchange rate was supported by the 200-hour simple moving average to trade at the 1.2864 mark.
It is expected that the British Pound will keep depreciating against the US Dollar to pass the support levels of the weekly pivot point and the 200-hour simple moving average. Besides, most likely, the rate will depreciate to the1.2800 level.
On the other side, the British Pound could appreciate against the US Dollar during today’s UK Average Earnings and Unemployment Rate at 9:30 GMT to push the rate to break the resistance of the monthly R1 at the 1.2911 mark.
