The price increase on the GBP/USD currency pair chart last week did not seem to continue when there was a pullback in the movement in the final sessions at the end of the week.
This follows the recovery in the US dollar after positive developments in the phone conversation between President Donald Trump and his counterpart Xi Jinping last Thursday.
Representatives from the two countries are reported to hold talks in London on Monday.
The focus on the NFP jobs report on Friday has also supported the recovery of the US dollar, but the price is seen moving sideways until the last session of the week ends.
If you look at the GBP/USD chart, the price has already risen slightly past the target level of 1.36000 last Thursday before retreating back down the next day.
The price decline almost touched the 1.35000 level during the reaction to the NFP report which has been one of the price focus zones for the past few weeks.
Resuming trading at the opening of the week, the price rose slowly to around 1.35600 and was seen testing the Moving Average 50 (MA50) resistance line on the 1-hour time frame of the chart.
If the rise continues, the resistance zone of 1.36000 will be attempted to be overcome before the price records a new high.
Breaking through last week's trading level will change the next price target to around 1.37000.
On the other hand, if the price returns to decline, the support level at 1.35000 will be an important zone to test.
Further declines below this level would expect the price to reach around 1.34000.
