The report of the Bank of England (BOE) meeting is seen to have met market expectations to take steps in raising its interest rates again after the hike implemented in December.
The implementation continued after the BOE took into account the increasingly worrying inflation rate and related aspects thus supporting the Pound to strengthen slightly.
But the consolidation has been limited as UK politics is still plagued by unresolved Brexit concerns as the market awaits the US NFP report tonight.
However, the price movement on the chart of the GBP/USD pair was still rising during the opening of the New York session yesterday (Thursday) and has again reached the resistance zone of 1.36000.
But the price does not seem to be able to rise higher after being stuck in the resistance zone to remain flat until the beginning of the European trading session today (Friday).
The price movement also saw a still strong uptrend pattern as the price continued to move above the Moving Average 50 (MA50) resistance level for an early signal to a trend change.
This proves that the price movement is likely to be able to reach the resistance zone of 1.37460 which is also seen as the highest record in 14 months since November 2021.
The aggressive surge will see the price reach the key resistance zone at 1.38000 which will record the latest highs.
But on the other hand, if the price movement continues to translate into a decline, the 1.35000 zone will certainly be the closest target that will be emphasized first.
A lower price decline above the zone will indirectly push the price to show the ability to return to the support zone of 1.34000.
