Price movements on the chart of the GBP / USD currency pair continue to be seen as continuing to increase in trading at the end of last week after a surge in previous trading was triggered by the decision of the central bank of England (BOE).
The pound triumphantly moved firmly against the US dollar after the less stimulating United States (US) NFP employment data report also weakened the US dollar currency in the market.
In addition, the strengthening of the Pound is seen to be bolstered by the sentiment of the UK vaccination campaign at a reasonable level. Following that, UK Prime Minister Boris Johnson also plans to loosen movement barriers this month.
This will push the price higher on the GBP / USD chart.
Price movement is seen slowly at the start of trading earlier this week as it flattens around the level of 1.37300 on the resistance zone after last week's gains overturned the 1.37000 barrier level.
The expected higher hike is likely to be able to soar that it will over 1,38,000 as well as record the latest altitude since the April 2018 trade.
However, investors also need to be aware that an earlier change in market sentiment will push prices down earlier below the 1.37000 level.
The fall in prices will then head back to the price support zone of around 1.36000. This parallel was successfully penetrated in last week's decline before prices spiked above that level after BOE's pipeline.
