During the previous trading session, the British Pound has appreciated against the US Dollar to break through most of the technical indicators to end the trading session at 1.2901. On Monday morning, the rate was located between the monthly PP and the 200-hour SMA at the 1.2910 mark.
Most likely, the support level of the 200-hour simple moving average will support the currency exchange rate to push it to break the resistance of the monthly PP at 1.2924. In this case, the rate will be trading at the 1.2900 level.
On the other hand, the resistance of the monthly PP at 1.2924 could resist the rate to pass through the support level of the 200-hour SMA to trade near the weekly PP at the 1.2874 mark.
