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During the previous trading session, the British Pound passed through the support level of the weekly S1 at 1.2831. On Friday morning, the rate was located at the 1.2805 mark.

In regards to the near-term future, most likely, the British Pound will depreciate against the US Dollar to the 1.2760 mark.

On the other hand, today’s UK Retail Sales data release at 9:30 GMT could push the rate to break the resistance level of the weekly S1 at 1.2831 mark to trade at the 1.2820 level.

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