During the previous trading session, the British Pound appreciated against the US Dollar to 1.3120. On Thursday morning, the rate was trading between the 55-hour and the 100-hour simple moving averages at the 1.3134 mark.
In regards to the near-term future, the rate will surge upwards to reach the 50.00% Fibonacci retracement level at 1.3163. Afterward, most likely, the 50.00% Fibo will retrace the rate to push it to trade sideways at the 1.3120 level.
On the other hand, the 100-hour simple moving average could resist the British Pound to depreciate against the US Dollar to the weekly pivot point at 1.3084.
