As well as taking advantage of this week's continued depreciation of the US dollar, the Pound Sterling has managed to climb to its highest level against the US dollar since April 2018.
As shown in the chart of the GBP / USD currency pair, the momentum of price increases is still strong, so that it has surpassed 1.38000.
The Pound Sterling was supported by the UK's increased bill yields with the outlook for the country's economic recovery following ongoing vaccination measures.
This strengthening trend in the value of the Pound is also seen as sparked after last week's England Central Bank Police (BOE) warning with instructions not to implement negative benefit levels.
The rise in price on the GBPUSD chart so that it continues on Tuesday's trading is seen as having headed towards the 1.38300 hurdle level with a continuation of price momentum which will see continued spike higher after this.
The target for the next increase is seen at the price level of 1.14000 for the price to continue to record the latest highs.
But investors are wary of the risks that the British currency needs to come up with which is likely to suggest an earlier fall in prices.
Following reports of the AstraZeneca vaccine, which lacked success with previous South African variants of the virus, UK officials warned that vaccination measures were ahead of obstacles. And this will likely cause the movement barriers to continue.
Should the price make its initial decline, the 1.37000 profile will become the RBS (resistance become support) zone which will act as the price support zone.
However if prices continue to dip lower, investors will assess the change in the prevailing trend and set a continual decline towards the preceding pedestal zones such as 1.36000 as well as 1.35000.
UK inflation data at the end of the week will also be the foundation of investors who are seen to affect Pound Sterling trading in the market.
