The price movement on the GBP / USD pair chart remains below the 1.36000 level following pressure on the UK economy to face an increasingly critical pandemic crisis.
Pound Sterling recorded a weak performance for 3 days in a row despite UK Prime Minister Boris Johnson giving hope about the vaccine. It is rumored that about 1.5 million vaccines have been distributed.
There are also reports that health centers in the UK are increasingly facing difficult challenges with an additional 50% higher number of hospital patients than the peak of the first wave of viral infections in April last year.
Meanwhile, the development of the Brexit agreement was also monitored by investors after the UK and the European Union (EU) at the end of 2020 reached an agreement on key issues that had hindered previous negotiations.
Risk market sentiment and support for the strengthening of the US dollar is also a factor in stifling the rise in the GBP / USD price chart.
But during this week, the price decline is seen stuck at the level of 1.35500 which is the support level for the week.
Price movements below the Moving Average 50 (MA50) barrier level over the 1 hour time frame still provide a signal for the price to decline.
If the price fails to cross the resistance zone at 1.36000, the price decline is expected to reach the level of 1.35000 in the RBS zone (resistance become support).
The continued lower decline is seen to lead to the next RBS zone at 1.34000.
However, if the price manages to jump above the MA50 level and also passes the 1.36000 zone, the price increase will continue until the level of 1.37000 reached at the beginning of the week.
