After showing an increase of around 130 pips on Wednesday, the price on the chart of the GBP/USD currency pair on Thursday yesterday again made a decline of around 90 pips.
The 1.34000 level remains a resistance zone that prevents the price from continuing higher.
Moreover, the still-risky market sentiment will continue to give an advantage to the US dollar as a safe-haven currency even as the war situation between Russia and Ukraine sometimes subsides.
But in the spotlight again in the Asian session this morning, an explosion was reported at a Ukrainian nuclear power plant following a Russian military attack.
The US dollar is expected to continue to strengthen further until the next session, but investors will also be cautious ahead of the US NFP jobs report to be published in the New York session.
The bearish trend signal was again received by investors when the price on the GBP/USD chart started moving below the Moving Average 50 (MA50) barrier level on the 1 -hour time frame.
The lower decline is expected to test the 1.33000 support that has been trying to break since last week.
Passing that zone will push the price further down towards the support zone at 1.3200-1.31700 which was previously tested in December trading last year.
However, if the price manages to rebound, the resistance zone of 1.34000 will continue to be tested again before giving a clearer signal for a change in the bullish trend.
The price increase will target the SBR (support become resistance) zone at 1.35000 after successfully exiting the price sideway zone this week.
