Until the beginning of the European session yesterday, the price movement on the GBP / USD currency pair chart is seen making a weekly low towards the RBS zone (resistance become support) at 1.36000.
But investors' expectations for prices continued to decline as the price showed a rebound of up to around 130 pips.
The strengthening of the Pound in the market was driven by positive UK employment data reports although the market reaction to the report was relatively slow.
The 3-month average income index at UJ jumped to 3.6% while the unemployment claim rate dropped to 7,000 from 38,100 previously. The unemployment rate, however, increased slightly to 5.0% from 4.9%, but did not exceed the expected increase of 5.1%.
With US dollar trading declining ahead of the FOMC meeting, the price on the GBP / USD chart once again jumped above the 1.37000 level and also crossed the Moving Average 50 (MA50) barrier within the 1 hour time frame.
The price reached an increase to the high level of 1.37400 which is the resistance level last week. Continued price movements in today's Asian session (Wednesday) slowed around that level.
If the price continues to rise in the next session, the higher target is likely to be seen at 1.38300 for the price to record its latest high since April 2018.
However, if the price falls again below the level of 1.37000, the RBS zone of 1.36000 will return to focus.
A lower decline will lead to the RBS zone of 1.35300 or the concentration level of 1.35000.
