Dylan and Alain Sign sailed themselves into medal contention after an excellent day on the water on Tuesday.
The pair were lying fourth overall, with the deciding race in their 49er class scheduled to take place at 5pm BST today (Thursday).
New Zealand’s Peter Burling and Blair Tuke have already secured gold in earlier races. But silver and bronze are still up for grabs.
Fletcher and Sign are currently just 10 points behind the Australian boat in third, and 13 behind Germany in second.
They have to put four boats between themselves and the Australians to overtake them, and be six boats ahead of the Germans.
Dylan said: “Tuesday was a much better day for us.
“We started to find our form and it was nice to finish the fleet racing on a high.
“Whatever it takes we’ll be there trying to win the Medal Race and hopefully things will fall into place behind.”
The British pair have been improving throughout the competition after a “disappointing” start.
Dylan said: “We’re working well together, racing fast, starting well and it’s a bit disappointing we didn’t do this at the start of the week as we know this is what we’re capable of and this is why we’re here.
“The main thing is that we’re performing well now.”
Alain added: “We chatted over the last few days about how we want to set the boat up, and have been reminding ourselves how we want to sail, just trying to find that extra bit of speed.”
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