In contrast to the slow-moving Euro, the Pound Sterling stood out earlier in the week when it jumped strongly against the US dollar to its highest level for almost 3 years.
Remaining positive market sentiment puts pressure on the US dollar and at the same time the Pound leverages to jump as shown on the GBP / USD pair price chart.
After testing the resistance zone of 1.38300-1.38600 last week, the price maintained the strengthening momentum to rise higher and until trading in the Asian session on Tuesday, the price has reached the high level of 1.39500.
While developing in the UK, the number of viral infections has reportedly dropped below 10,000 a day since last October and around 15 million people have been vaccinated.
Following the results of the previous hawkish bank of England (BOE) meeting, positive sentiment in the UK will also continue to drive the strengthening of the Pound.
With the momentum on display, the price on the GBP / USD chart is expected to continue rising towards the latest highs around 1.4000.
However, investors need to be vigilant for the situation of falling prices again in the event of a change in current market sentiment.
The price decline is seen to be supported at the price zone of 1.38600-1.38300 which acts as the RBS zone (resistance become support).
Next, the lower RBS zone at 1.37000 will be the focus of the continuing decline.
Investors will focus on the UK inflation data report on Thursday which will affect the movement of the Pound currency.
