Once again shocking the market this week, the Pound Sterling jumped again on Thursday trading after a significant decline the previous day.
On Wednesday, the progress of the passive Brexit negotiations showed a negative reaction from investors to the Pound Sterling with a bearish price on the GBP / USD pair around 150 pips.
However, it is even more shocking for investors when the price drop is not continued instead the price has soared the next day with the daily rise reaching over 200 pips!
A factor that has backed the Pound rebound is the report of European Union (EU) Brexit Consultant Michel Barnier stating that the UK has reduced its catchment claims in waters after Brexit.
This has cleared up the turmoil of previous negotiations where the issue was a barrier to negotiating agreement reached.
The price testing the RBS zone (resistance become support) at 1.33000 has made a reversal above the resistance level of 1.34400 to reach the high level of 1.35000.
The height level reached is also the highest since December 2019.
But the price closed at the New York session lower again around 1.34500 after a decline of around 60 pips.
Slow price movements in the Asian session while investors await the main focus of data this week are the US NFP (US) employment data report in the New York session.
If the price continues to rise again, the resistance level of 1.35000 will be tested again and if the height level is also successfully broken, the price will record the latest high level since May 2018.
However, if the price falls again, the price zone is seen at 1.34000 before the continued lower decline will return to test the RBS zone of 1.33000.
