Fitzcarraldo by the Frames is a really good album, worth checking out if you don't know it. This is the title track from that album, and one of the band's best loved songs. Here we see the acoustic rhythm guitar which is the main instrument for the song. It's a good one to learn for those who love to sing and play. That's because there are only 2 simple chord progressions throughout the entire song. They are just repeated a lot.
Verse - Use regular strumming (constant up / down strums). But, put feeling into the strums, vary the strength of some strokes and be gentler on others. Go by what feels right. The chord progression is very simple:
F# minor - D major - D sus2 - D add b5 - D major (repeat LOTS)
Really it is just 2 main chords - the F# minor and the D chord. But for the D chord, he removes and adds fingers along the high E string a couple of times to make it a little more interesting. If you count the D chord as 1 basic chord (albeit with a few alterations along the way), then that D chord runs for the same length of time as the F# minor.
Chorus - Another simple chord sequence. Just keep cycling through these 4 ascending chords:
A major - B minor - C# minor - D major* (repeat)
* As for that last D major chord. It can be a tricky barre chord for many folks. You can always use this standard D major chord shape instead if you find it easier.
And that is all you need to play the whole rhythm guitar for the song. Just rinse and repeat!