The price movement on the chart of the GBP/USD currency pair is seen to be flat above the 1.26000 zone continuing at the opening of the beginning of the week.
Attempts to increase prices are seen to be blocked at the 1.26500 level following the strengthening of the US dollar which puts pressure on the Pound.
Investors will be wary of the Pound's movement this week which is expected to be at risk in the face of key economic data including the jobs report, economic growth data and UK inflation.
Focusing on the New York session tonight is the inflation data of the United States (US) which is expected to have a big impact on the market, especially on the US dollar currency.
Based on the expected direction of the central bank's monetary policy after digesting the published data, investors are likely to see a clearer direction of price movement.
In the event of a surge to the upside, the price is expected to test the nearest level of 1.27000 before the move higher continues.
The level reached by the price during the previous weeks trading will be attention to target such as around 1.27700 or the resistance zone of 1.28000.
On the other hand, if the price dips below 1.26000, this will be a bearish signal for the price to drop lower hereafter.
The price level that was reached last week around 1.25200 will be tested again or it is possible that the price will touch the level of 1.25200 which is the main support zone for the price.
A further decline is not impossible and the price is likely to record a new 12-week low.
Investors are expected to find it difficult to see a one-way movement following a series of data that will be published that can change the market situation in the short term.
