Investors observed the price movement on the GBP/USD currency pair chart yesterday which was seen struggling to continue its rise.
The US dollar situation that was traded gloomy at the beginning of the week failed to be exploited by the Pound to restore the currency value to a better level.
The price moved horizontally below the 1.26000 level in the Asian session yesterday, testing the resistance before retreating down.
In the European session, the price once again tried to test the level but still failed to break higher.
A lower decline was witnessed in the Asian session this morning (Tuesday) as the market reacted to the report regarding the threat of tariffs on Canada and Mexico by Donald Trump.
The situation that again gave the US dollar an advantage has pressured the price down to approach the 1.25000 support level again.
The level that was tested in the decline last week became the lowest level reached in a 6-month trading period.
With the tendency for the price to continue to decline after this, the support is at risk of being broken and the price will record a new low.
The target for the price to continue to decline will shift to around the focus zone at 1.24000.
On the other hand, if the price bounces back up to make an increase, the resistance at 1.26000 will continue to be tested again to be broken.
A rise higher than that will give a bullish signal before the price heads towards last week's focus level at 1.27000.
