During Thursday’s trading session, the British Pound passed through the resistances of the weekly S2 at 1.2880 and the 62.20% Fibo at 1.2867 to end the trading day at 1.2814 mark. On Friday morning, the rate was trading sideways at the 1.2818 mark.
In regards to the near-term future, most likely, the British pound will move towards the monthly S1 at 1.2778 to trade at the 1.2780 level. The simple moving averages will try to catch up the rate during the trading session.
Besides, none of today’s fundamental news could affect the exchange currency pair to surge upwards to the 62.20 % Fibo or break the support levels of the monthly S1 at 1.2778 and weekly S3 at 1.2749 on Friday.
