During the previous trading session, the British Pound skyrocketed to 1.3250 breaking most of the technical indicators. On Tuesday morning, the currency exchange rate was depreciating towards the previously drawn pattern line to be located at the 1.3147 mark.
It is expected that the 100-hour simple moving average and together with the monthly pivot point support level will push the rate towards the 1.3200 level.
On the other hand, today’s US Consumer Price Index and Core Consumer Price Index data release at 12:30 GMT might depreciate British Pound against the US Dollar to push the rate to return to the previously drawn pattern at 1.3000.
