GBP/USD Analysis: Supported by the August high


The British pound appreciated 0.23 % against the US Dollar. On Thursday morning, the rate was supported by the August high at the 1.3040 mark. 

In regards to the near future, most likely the rate will move upwards towards the weekly R2 at the 1.3155 mark. The 55-hour SMA could also support the August high to push the rate upwards, but the British pound should be stopped by the upper boundary of the medium ascending line to retrace back into the pattern during Thursday's trading session. 

However, watch out for fundamental Brexit news, which could break most technical indicators and can ignore all the rules to push the rate to go in any direction!


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