The pound sterling fell lower against the US dollar earlier this week with the strengthening pressure displayed by the US dollar in the market.
The pound was also affected by the critical pandemic crisis factor in the UK. Britain's Chief Health Adviser warns of the detrimental effects of the pandemic for a few more weeks.
UK Prime Minister Boris Johnson also warned the UK is now facing a difficult period with an increase in cases of infection putting more pressure on the health system there. Efforts to curb the spread of infection are intensified.
On the price chart the GBP / USD pair started trading earlier in the week with a price drop as soon as the Asian session started.
The daily decline was recorded around 100 pips to a low of 1.34500 before a slight rise was seen in the New York session again.
The price moved horizontally above the 1.35000 level until the Asian session, but the movement below the Moving Average 50 (MA50) barrier level over the 1 hour time frame on the GBP / USD chart still signals a bearish trend.
If the price manages to jump high from the barrier and also the SBR (support become resistance) zone 1.35300, the initial signal for the uptrend will be the investor's consideration.
The price will return to the resistance zone at 1.36000 if the price continues to resume.
However, if the price continues to decline yesterday, the RBS zone (resistance become support) at 1.34000 is seen to be the price focus destination.
