During Tuesday's trading session, the currency exchange rate broke the resistance of the 55-hour simple moving average. During Wednesday's midnight hours, the rate was resisted by the 100-hour SMA at the 1.2890 mark.  

In regards to the near-term future, most likely, the British Pound will depreciate against the US Dollar to the 62.30% Fibonacci retracement level at 1.2864. 

Note, during today's UK CPI data release at 9:30 GMT, the rate depreciated by 8 base points to turn the rate towards the 55-hour simple moving average at the 1.2885 mark.



This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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