The US dollar moved flat towards weekend trading with market sentiment seen as still mixed.
Investors are wary of the movement of the US dollar ahead of the release of US inflation data in the New York session tonight which is expected to increase by the market.
Meanwhile, the Pound has also been seen depreciating due to the plummeting Euro tempiation after the outcome of the European Central Bank (ECB) policy meeting yesterday.
Investors also continue to monitor the development of the Brexit issue as any recent report could trigger uncertainty over the Pound.
The price movement on the GBP/USD chart in the European session yesterday saw the price make a rise of around 60 pips reaching the level of 1.25500 before making a decline again in the New York session yesterday and returning flat at the 1.25000 zone continuing the Asian session this morning.
The price is still showing a signal for a bearish movement where the price is still moving below the Moving Average 50 (MA50) barrier level on the 1 hour time frame on the price chart.
If the Pound continues to decline, the price will make a lower decline and retest the 1.24000 zone to continue the more obvious bearish trend.
The continued decline in the price will test the 1.22800 zone to record the latest 3 -week low.
On the other hand, if the price increase occurs again, the price will make an increase from the 1.25000 zone and then move to the 1.26000 zone to test the resistance zone.
The price increase that still manages to break through the resistance zone will target for a higher rise in the next resistance zone at 1.27000.
