Price movement on the GBP/USD currency pair chart is seen once again testing the support zone at 1.36000.
Price has shown a decline since the Asian session at the opening of the week yesterday, but momentum was lost when it reached that zone.
Similar to last week’s reaction, after testing the 1.36000 zone, price rebounded and slowly rose in the Asian session this morning (Tuesday) to around 1.36300.
Price movement slowed ahead of the opening of the European session and was seen testing the Moving Average 50 (MA50) resistance line on the 1-hour time frame on the chart.
Price is still struggling to find a clear direction as concerns are being directed at the development of Trump’s tariffs that could affect market volatility.
If the US dollar weakens and pushes the price higher, the level around 1.37000 will be surpassed before continuing the rise higher.
The next target is to return to the 1.38000 resistance zone which was almost touched during last week's rise.
However, if the US dollar strengthens again and puts pressure on the Pound, the price risks falling below the 1.36000 zone and giving a bearish signal.
Next, the price will continue to decline towards several previous focus zones such as 1.35000 or at the 1.34000 support.
