Checking on the price movement on the GBP/USD chart, it seems that it is still maintaining a bearish reaction even though at first the price seems to be trying to climb higher.
The decline was seen at the opening of the New York session yesterday (Thursday) where it has once again fallen and passed the SBR (support become resistance) zone of 1.33000 to remain bearish.
In this case it can also be observed after the price continued to make a fall at the beginning of the Asian session today (Friday) and remained traded below the Moving Average 50 (MA50) barrier level.
Various factors continue to envelop and burden the Pound after it remains embroiled in the issue of Brexit which is seen at this time still have no consensus during the trial.
The burden continues to be exacerbated by concerns over the spread of the Covid-19 epidemic with the discovery of the new Omicron variant becoming more prevalent and altogether continuing to worry the market situation.
Of course, the focus is on the publication of the United States (US) NFP data report which will also stimulate the Federal Reserve (Fed) in accelerating interest rate hikes.
In line with that aspect, the tendency to continue to record declines is still visible with analysts issuing an opinion that they will test the 1.32000 support zone first.
This also proves that the lowest level since December 2020 around 1.31940 is likely to be the next target before the price movement continues to be aggressive in making the plunge.
On the other hand if the price on the GBP/USD chart returns to surprise with the uptrend, the SBR zone of 1.33000 will likely be the earliest resistance zone to be reached before continuing to climb.
While the resistance trendline formed is expected to be an early indication for trend changes and a clearer uptrend pattern will be seen if the price successfully tests the SBR 1.34000 zone.
