After hitting the latest 8-week high, the price on the GBP/USD chart is again seen moving flat as investors cautiously await the US NFP jobs report in the New York session soon.
Analysts still see both the Pound and the US dollar as having a chance to strengthen over time as both central banks are in the policy tightening phase.
However, the focus will be more on the NFP report which will have an impact on the movement of the US dollar.
After the high was reached last Wednesday up to around 1.36000, the price declined again in yesterday's trading by making the 1.35000 level as the price support level.
Slightly rising again during the New York session, the price movement was slow and limited at the Moving Average 50 (MA50) barrier level on the 1 -hour time frame until the end of the session.
Continuing at the beginning of the Asian session this morning (Friday), the price slightly passed the MA50 barrier, but not enough to give a clearer signal for price movement.
The US NFP report tonight will move the price with bullish expectations once again testing the 1.36000 resistance zone.
The latest highs will be reached again on the GBP/USD chart if the NFP report is disappointing and and drives the depreciation of the US dollar.
However, if the data readings meet expectations for the US dollar to strengthen, the price will plunge and signal the beginning of a bearish trend.
If the price declines above the level of 1.35000, the focus level is at 1.34000 and also the SBR zone (support become resistance) for the decline that continues lower.
