During Thursday’s trading session, the currency exchange rate dropped by 107 pips or 0.81% to reach the weekly S1 at 1.3044. On Friday morning, the rate was retraced by the 50.00% Fibo to the 1.3115 mark.
It is challenging to predict movements of the GBP/USD currency pair due to high volatility caused by Brexit deal uncertainties.
Most likely, the British Pound will keep depreciating against the US Dollar towards the weekly S1 at the 1.3044 mark. It is expected that the rate could stay at the 1.3050 level until the end of the trading session.