Compared to the decline recorded last Tuesday, the price movement on the GBP/USD currency pair chart was more flat on Wednesday.
The price hovered around the 1.36000 zone after bouncing from the previous decline that reached around 1.35300.
The flat and slow movement in the 1.36000 zone is being closely watched by investors for further direction while the price is also seen testing the Moving Average 50 (MA50) resistance line on the 1-hour time frame on the chart.
The bearish pattern is expected to continue towards the end of this week, but the probability for the price to make a jump remains.
On Friday, UK economic growth data will be awaited in the European session which will support a clearer movement for the Pound.
In the meantime, global tariff developments remain the main driving factor in the market.
For the expectation of a downward price movement, from the 1.36000 zone the price is likely to pass the level reached last Tuesday to record a new 2-week low.
The 1.35000 zone is among the closest focus before a lower decline will expect the 1.34000 support zone to be tested.
On the other hand, if the price makes a strong rise from the 1.36000 zone after breaking through the MA50 barrier, the trend change signal will push the price up to around 1.37000.
Next, the focus will shift to the 1.38000 resistance zone which was almost touched during last week's rise.
