Pound traders are definitely excited about the price movement earlier this week. However, there are also those who lose with relatively large price movements that remain influenced by the Brexit factor.
If you look at the price on the GBP / USD pair chart, the price has managed to make yesterday's rise to the high of 1.34000 at the beginning.
However, the price has plunged back around 80 pips after testing the resistance zone.
Giving a thrill for investors, the price then jumped again 120 pips in the New York session to pass resistance 1.34000.
The latest highs reached around 1.34400 before the price flattened and closed trading below that level.
In the wake of Brexit, the Pound rebound was driven by expectations that negotiations between the UK and the European Union (EU) were nearing completion. Agreement agreements are expected to be announced this weekend.
With the addition of the US dollar depreciation factor, support for prices continues to rise to the latest highs.
The next rise is likely to lead to the resistance zone at 1.35000 tested in early September.
However, investors should be careful if the price falls below the level of 1.34000 in the RBS zone (resistance become support) which can give an early signal of a decline.
A lower decline is expected to return to the previous lower RBS zone at 1.33000.
