During Wednesday’s trading session, the currency exchange rate traded sideways to end the trading session at 1.3000 as it was predicted. On Thursday morning, the rate to broke the weekly R2 to trade at the 1.3068 mark. Note, the chart was reviewed and some corrections were applied!
Most likely, the British Pound will trade sideways to stay above the weekly R2 at 1.3060 during the day. Meanwhile, the 55-hour simple moving average will try to catch up on the rate.
On the other hand, today’s US Durable Goods Orders and Core Durable Goods Orders data release at 13:30 GMT could push the rate to pass the weekly R2 at 1.3060 to trade at the 1.3000 level.
