During Friday’s trading session, the currency exchange rate was retraced by the 55-hour simple moving average to the 1.3060 level. On Monday morning, the British Pound kept depreciating against the US Dollar to the 1.3053 mark.
Most likely, the currency exchange rate will be trading downwards to the bottom boundary of the medium pattern line at the 1.3030 mark.
Besides, the simple moving averages at the 1.3100 mark retrace the rate to give an additional push for the British Pound to depreciate against the US Dollar to the 1.3020 level.
