The British pound depreciated 0.38% against the US Dollar since Monday’s session. On Tuesday, the rate was located at the 1.3000 mark.
In the near-term future, most likely, the rate will move downwards to the weekly S1 at the 1.2948 mark during the trading session. The 55-hour simple moving average will try to catch up the rate to give additional resistance to break the weekly S1.
Moreover, the UK Construction PMI data release at 8:30 GMT on Tuesday did not help the rate to change its direction to trade upwards. The release was flat and did not affect the market much to keep the rare to go downwards to the weekly S1.
