The British pound appreciated 0.40% against the US Dollar since Monday’s session. The rate was moving sideways during the previous session to allocate the rate at the 1.3131 mark during Tuesday morning hours.
In the near-term future, most likely, the rate will break the weekly PP at the 1.3144 mark and the 50.00% Fibo to trade at the 1.3160 level. The 200-hour simple moving average should support the rate to push it through the mentioned technical indicators during the trading session on Tuesday.
On the other side, the simple moving averages could resist the rate to push it downwards to trade at the 1.3050 level.
