During Monday’s trading session, the currency exchange rate was retraced by the 200-hour simple moving average to pass through most of the technical indicators. On Tuesday morning, the rate was located at the 55-hour simple moving average at the 1.3065 mark.
It is expected that the 100-hour simple moving average could retrace the British Pound near the weekly pivot point at the 1.3095 mark. Most likely, the currency exchange rate will end the trading session at the 1.3000 level.
However, today’s US Durable Good Orders release at 12:30 GMT might push the rate towards the 200-hour SMA at the 1.3100 level.
