Price movements on the chart of the GBP/USD currency pair were seen to be more flat at the end of last week.
But according to analysts, the price trend still tends to move bullish as the US dollar continues to receive pressure from current factors in the market.
In the New York session last Friday, the United States (US) PCE price index data was published which also recorded a slower figure while adding more pressure on the US dollar.
While the Pound is seen to still have an opportunity to be exploited following the difference in monetary policy views between the Bank of England (BOE) and the more aggressive Federal Reserve (Fed).
If observed, the price gain for the past week on the GBP/USD chart marked a recent 30-month high.
However, the rise stalled as far as the 1.34300 level as the current resistance where the price remained hovering around the 1.34000 zone until resuming trading at the opening of the week.
Investors are carefully watching the latest indications of prices at the beginning of this week to continue the direction of further movement.
If the bullish pattern continues, the price that breaks through the resistance zone of 1.34000-1.34300 is expected to head to the next concentration zone at 1.35000 in addition to recording the latest high level.
However, if a different situation occurs, the price drop can be expected to return to the RBS zone (resistance become support) 1.33000.
The zone last week also invited an attractive price reaction which was seen to have successfully bounced back to resume the increase.
