The British pound appreciated 0.82% against the US Dollar since Monday’s session. During the previous session, the rate was trading sideways between the 50.00% Fibo and the weekly PP at the 1.3147 level to stop the trade at the 1.3151 mark. On Tuesday, the rate was supported by the 100-hour SMA to trade at the 1.3200 mark.
In regards to the near-term future, the British pound will surge upwards to the weekly R1 at the 1.3260 mark due to the support of the 100-hour SMA. Most likely, the British pound will trade at the 1.3200 level on Tuesday.
Moreover, none of the technical indicators may resist the rate from the surge on Tuesday.
