The British pound depreciated 0.49 % against the US Dollar since Monday’s session. During Tuesday morning hours, the British pound was located above the weekly PP at the 1.3055 mark.
In regards to the near-term future, most likely, the British pound will move upwards to the 1.3100 level due to support of the 100-hour and the 200-hour SMAs together with the support of the weekly PP at the 1.3055 mark. The rate should pass the 55-hour SMA to surge upwards during the day.
However, the currency pair may trade sideways to stay at the 1.3060 level on Tuesday.
