The price gains on the chart of the GBP/USD currency pair up to yesterday's Thursday trade are seen to be still stalled below the price resistance zone at $1.28000.
The zone was tested since the beginning of the week when the price hit a new 12-week high, but the move higher still failed to continue.
The movement of the US dollar currency remained volatile throughout the week with the next indication expected on the United States (US) NFP employment data report shortly.
The price hovering around the Moving Average 50 (MA50) line on the 1-hour time frame on the GBP/USD chart is also observed as an indication of the current price trend change.
A major impact on price movements will be expected in the New York session following the NFP data being an important indicator for the Federal Reserve (Fed) while also inviting speculation on the interest rate cut by the Fed.
The market turmoil will continue into next week with US inflation data and the FOMC meeting will be the new focus.
For expected price movements on the GBP/USD chart, if a surge occurs, the price will break through the 1.28000 resistance zone before a new high level is recorded.
The price increase can reach up to the target of 1.29000 if the US dollar weakens significantly after the data reaction is published.
On the other hand if the price shows a dive after failing to break the 1.28000 resistance, the price could reach back to around 1.27000 which has served as a support for the price in recent weeks.
If the support is finally breached, the price will move on a bearish trend that will target a drop towards the next concentration level at 1.26000.
