During Tuesday’s trading session, the British Pound broke the resistance of the medium ascending pattern line to end the trading session at the 1.3105 mark. On Wednesday morning, the British pound was located between the 50.00% Fibo and the monthly R1 to trade at the 1.3143 mark.
In regards to the near-term future, most likely, the British Pound will get resisted by the dominant pattern line at 1.3160 mark. It is expected that the rate will be trading at the 1.3120 level during the trading session on Wednesday.
On the other side, the 50.00% Fibo at 1.3163 mark could support the rate to break the resistance of the dominant pattern line at the 1.3160 mark to trade at the 1.3200 level during the day.
