The British pound depreciated 0.23 % against the US Dollar. The 55-hour simple moving average supported the currency exchange rate during Wednesday’s morning hours.
In regards to the near future, most likely the rate will move downwards to trade near the 1.2960 mark due to the resistance of the weekly R1 at the 1.3040 level, which together with the August high has provided strong resistance in the past.
Be careful, any fundamental Brexit news may break most technical indicators and can ignore all the rules to push the rate to go in any direction. Watch out for news!
