The pound sterling also moved as weak as the European Euro until the end of trading this week while Brexit negotiations are still slow.
However, like other European countries, the United Kingdom (UK) has not missed the effects of the Covid-19 pandemic transmission for the latest wave.
Daily infection cases in the UK yesterday recorded a total of 23,065 cases with 280 deaths. However, the government reportedly will not implement a complete economic shutdown even if the number of virus infections increases.
The price movement on the GBP / USD pair chart recorded a daily decline of around 140 pips on Thursday with the Pound declining throughout the week.
The price testing the Moving Average 50 (MA50) barrier level over the next 1 hour time frame has dropped again below the 1.30000 level in the SBR zone (support become resistance) up to RBS (resistance become support) below 1.29000.
However, after testing the RBS zone, prices rose slightly again to close New York session trading at around 1.29300 and flat in the Asian session on Friday.
Price movements are still below the MA50 resistance level which expects the price to continue to make a lows below the 1.28500 level.
The support zone around 1.27600 is seen to be the destination target for the next price drop.
However, if the price rises again, the important level of 1.30000 will return to the focus before the higher rise will test the SBR zone of 1.30700.
