Trade earlier in the week saw the US dollar move weaker again ahead of the election debate between Donald Trump and Joe Biden as well as investor vigilance over the US NFP job data report over the weekend.
The depreciation of the US dollar in the market earlier in the week gave room for other major currencies to return to trading.
However, the Pound Sterling failed to take advantage of the opportunity after the increase was hampered by a statement by England's central bank governor Andrew Bailey, who said policymakers had not yet rejected the negative interest rate measure option for central bank policy.
This further eroded investor confidence following Deputy Governor Dave Ramsden's statement that the central bank will not implement negative interest rates in the near future.
The market did not react significantly during the debate, but the US dollar was seen to rise slightly after the debate ended.
If you look at the price movement on the GBP / USD currency pair chart, the price that made the rise earlier in the week is moving below the 1.29000 level and the horizontal movement of the price is shown in yesterday's trading around the SBR (support become resistance) zone.
If the Pound continues to move weakly, the level will return to see a reversal of the GBP / USD chart likely to move to the level of 1.27600.
A lower drop will test the support zone around 1.26700-1.26400.
However, if the price manages to make a rise above the level of 1.29000, the increase will be expected to a higher level towards resistance 1.30000.
