The excellence of the price movement on the chart of the GBP/USD currency pair seems a bit gloomy as the price continued to flatten around the 1.34000 zone at the close of last week's trading (Friday).
However, there was an attempt at the end of the session for the price to display a plunge but failed after being stopped by the resistance level of the Moving Average 50 (MA50) to rebound.
However, support in making the jump could not last long after the price remained hovering in the 1.34000 zone until continuing to trade early this week (Monday).
The Pound is still able to take advantage of the opportunity to record a strengthening after also receiving some positive news from post -Brexit developments.
Not only that, the easing concerns about the Omicron variant have completely caused market sentiment to recover (risk-on) and continue to impact the weakness of the USD.
The movement in the value of the Pound at the beginning of the fourth quarter close of 2021 is likely to be a little gloomy in line with the major financial markets still closed in conjunction with the Christmas holidays.
If the price movement continues to be able to take advantage of the various sentiments, the price is likely to be able to remain soaring in reaching the resistance zone of 1.35000.
The next surge is expected to support investors in targeting the expectation to reach the next resistance zone at 1.36000 which was also the focus zone last November.
On the other hand, if the price decline occurs again, the previous high level reached around 1.33640 will likely continue to be the closest target to be hit again.
A more drastic price decline will indirectly push the price movement towards the RBS zone (resistance become support) 1.33000 and thus will give an early signal of a bearish trend.
