The price movement on the GBP / USD pair chart shows a rise again until the end of the New York session yesterday after the previous price decline was displayed.
The Pound trade is still supported by optimistic expectations for Brexit negotiations although there are still no recent reports to signal to investors.
Price movements are seen to be further driven by the declining US dollar trade following investor confidence in the recovering political sentiment in the United States while awaiting further vaccine developments.
The pattern of movement was almost the same at the beginning of the week, the price on Tuesday trading yesterday was seen to also make a decline to reach the support level of 1.33000 after the price at the level of 1.33800.
Testing the RBS zone (resistance become support) 1.33000, the price returns to rise above the Moving Average 50 (MA50) support level at the 1 hour movement the price returns to signal a bullish trend.
Closing the New York session trading around the 1.33600 level, the price moved slowly around that level on the continuing trading in the Asian session this morning.
The price is expected to return to the resistance zone of 1.34000 for the price to continue to record the latest 12-week high.
The momentum of a successful price increase is maintained which will further push the price towards the high level of 1.35000.
However, if the price returns to the downtrend, the 1.33000 level in the RBS zone will be the price support and investors will evaluate the price reaction whether it can break or otherwise.
A lower decline is seen to return to the previous focus level of 1.32000.
