The British pound appreciated 0.77 % against the US Dollar since Monday’s session. During Tuesday morning hours, the currency exchange pair broke the upper boundary of the medium ascending pattern to trade near the weekly R1 at the 1.3178 mark and the monthly R1 at the 1.3185 mark.
The 161.80% Fibo combined with the weekly R1 and the monthly R1 should retrace the British pound back into the medium pattern to trade near the weekly pivot point at the 1.3050 level during Tuesday’s trading session.
However, the rate might take supports of the technical indicators to surge near the upper line of the large descending channel at the 1.3225 level.
