|Day's range||1.2295 - 1.2329|
|52-week range||1.0379 - 1.3171|
The British pound initially tried to rally during the trading session on Wednesday, but you can see that the market has run into a little bit of resistance.
Crypto exchange sees massive outflows in the aftermath of US regulatory action.
The British pound hit its highest level against the dollar in eight weeks on Wednesday as worries about the health of the global financial system continued to ease. The pound's risk-sensitive nature means it was "supported by the rebound in risk appetite amidst cooling concerns about the banking sector turmoil", according to George Vessey, FX and macro strategist at Convera. Markets have been volatile in March following the collapse of U.S. tech lender Silicon Valley Bank (SVB) and the emergency takeover of Credit Suisse by banking rival UBS, raising fears of systemic stress that could lead to more bank failures.