Bounced back to make up for the defeat, the Pound Sterling currency bounced back strong on Tuesday trading after a few days of poor performance.
The price movement on the GBP / USD currency pair chart significantly changed the price trend after the Pound began to strengthen as the US dollar also traded lower in the market.
Any indication of a central bank policy must have a direct impact on the currency. A statement by the Governor of the central bank of England (BOE) yesterday eased expectations for the implementation of negative interest rates as it feared it would invite various other problems.
This has given investors more confidence to increase the purchase of the Pound Sterling despite the still risks of the UK economy facing a pandemic crisis.
On Wednesday's trading, the price on the GBP / USD chart soared around 160 pips past the 1.36000 price resistance zone.
After closing the New York session trading around 1.36600, the price continued to rise in the Asian session this morning towards the price resistance zone of 1.37000.
The resistance zone was tested early last week before plunging again. This level has also been the highest achieved since last April 2018 trading.
With the momentum successfully maintained, the price has the potential to jump higher than the resistance and record the latest highs.
However, if market sentiment changes and the price returns again, the price support zone is seen at 1.36000 and also 1.35000 again.
