The price fluctuations displayed on the GBP/USD currency pair chart at the end of last week signaled a difficult move to make an increase.
The price reaction was mixed when the US (US) NFP employment report was published in the New York session last Friday.
The increase in jobs in April was better than expected, but lower than the previous month's reading which was revised downward.
Trading this week will focus on the FOMC meeting which will influence the US dollar while the Pound currency will be driven by the Bank of England (BOE) policy meeting.
On the GBP/USD chart, the price hovered around the 1.33000 zone last Friday before ending its last session's closing trade around 1.32700.
Resuming the opening trade earlier this week around that, the price slowly rose again approaching the 1.33000 level.
However, price movement began to be limited and leveled off below 1.33000 and was also seen testing the Moving Average 50 (MA50) resistance line on the 1-hour time frame on the chart.
If it fails to break through this barrier, the price is likely to be pressured down again before moving lower than last week's level.
The extended decline will target the focus zone around 1.32000 to be tested before moving to around 1.31000.
However, if the price manages to break through 1.33000, a bullish pattern will be displayed for the resistance zone at 1.3400 to be tested again.
If it breaks through this zone, the price has the potential to record a new high for the 3-year trading period with a target of 1.35000.
