During Monday’s trading session, the currency exchange rate passed through most of the technical indicators to end the trading session at 1.3200. On Tuesday morning, the 55-hour simple moving average supported the rate to trade at the 1.3269 mark.
In regards to the near-term future, most likely, the 55-hour and the 100-hour simple moving average will support the British Pound during the day to push it to the 1.3300 level.
On the other hand, today’s UK Average Earnings Index release at 9:25 GMT might push the rate to pass through the support levels towards the weekly PP at the 1.3214 mark.
