The Pound has extended its gains against the US Dollar on Thursday. Moreover, the rate has managed to pass the resistance of the PP at 1.3247.
Due to that reason the currency exchange rate will face no resistance, as it surges up to the levels of significance near the 1.3220 mark. Near that level a R1 level together with the upper trend lines of the junior, medium and long teRm patterns. Coincidentally, just above the R1 all of the mentioned trend lines meet.
However, for a surge the rate is set to need support. It could be provided by the 55-hour SMA, lower trend line of the junior pattern and the PP at 1.3247.
