During the previous trading session, the rate passed through the 55-hour simple moving average to end the trading session at the 1,3000 as it was expected. On Friday morning, the British Pound was trading between the 55-hour and the 100-hour simple moving averages at the 1,3022 mark.
In regards to the near-term future, most likely, the currency exchange rate will get the support of the 100-hour SMA to surge towards the resistance of the weekly R2 at 1,3060.
On the other hand, the 55-hour simple moving average could resist the British Pound to push the rate to trade sideways at the 1,3000 level.
Written by Admin
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