The Pound Sterling currency earlier this week was seen to show an increase in its trading value as the UK became one of the countries with the highest percentage of vaccination measures in the population.
An unfortunate issue arose when the European Union (EU) last Friday blocked vaccine exports after claiming that British vaccine company AstraZeneca was overcharging their country's market, affecting vaccine contracts with the EU.
The Asian market session at the opening of trading this week also saw a stronger movement of the Pound against the US dollar.
On the GBP / USD currency pair chart, the price which started around the level of 1.37000 shows a bullish pattern but is still in the resistance zone a few weeks ago.
Until the beginning of the European session, the price has managed to rise 50 pips to the level of 1.37500 but the price momentum is still slow.
With price movements above the Moving Average 50 (MA50) support level over the 1-hour time frame, investors remain looking at the bullish price trend for the GBP / USD chart.
A successful price increase beyond the current resistance zone will lead to an altitude of around 1.38300 thus recording the latest high level since the April 2018 trade.
However, if the price moves down again from the resistance zone of 1.37000, the decline in the price is seen to test the RBS zone (resistance become support) at 1.36000.
The next lower drop will go to the RBS zone of 1.35300 and also the focus level of 1.35000.
