The GBP/USD chart at the beginning of the week yesterday showed mixed movements with price fluctuations in different sessions.
The US dollar traded uncertainly as the market cautiously awaited the development of trade talks between representatives from the United States (US) and China in London yesterday, which continued today (Tuesday).
The US dollar ended well at the end of last week with the US NFP employment report for May also positive, but investors will also be waiting for clues on US inflation data this week.
Meanwhile, the Pound's movement was influenced by the UK jobs report published early in the European session today.
Pressure may hit the Pound following the decline in the latest data components. The 3-month average income index fell to 5.3% and the unemployment rate rose to 4.6%, as expected.
If we look closely, the price has made a decline near the 1.35000 zone at the end of last week.
However, in the Asian session yesterday, the price showed an increase to around 1.35800 before retreating to make a decline again in the next session.
The price settled slightly to around 1.35200 in the trading that continued into the Asian session this Tuesday morning after failing to break through the Moving Average 50 (MA50) barrier line on the 1-hour time frame on the GBP/USD chart.
The price continued to decline after the UK jobs report was published, approaching around 1.35000 to test the support level.
If it fails to bounce back from that level, the price could fall lower with expectations of heading to 1.34000.
However, if the price manages to jump strongly beyond yesterday's level, the resistance zone of 1.36000 is targeted for the breakthrough price.
Next, the latest 3-year high will be renewed with the target shifting to 1.37000.
