The British pound appreciated 0.50% against the US Dollar since Tuesday’s session. On Wednesday morning, the rate was located at the 1.3177 mark between the monthly R1 at 1.3185 level and the 50.00% Fibo.
In the near-term future, most likely, the rate will break the monthly R1 at the 1.3185 due to support of the 100-hour simple moving average. The rate may be traded at 1.3200 level on Wednesday.
On the other hand, the resistance of the monthly R1 at the 1.3185 mark could push the rate to trade downside near the weekly PP at the 1.3144 mark. The predictions may be broken by fundamentals. Watch out for news!
