Although the price movement was slow at the beginning of the week, but on the chart of the GBP/USD currency pair it was seen that it continued to record yesterday's lowest level.
The positive momentum of the strengthening of the US dollar at the end of last week still gives confidence to investors to see the king of currencies maintain its performance this week.
However, price movements are expected to be limited yesterday and today (Tuesday) due to the lack of key economic data to drive the market.
The focus will be on the inflation data of the United States (US) which will be an important focus especially for the Federal Reserve (Fed) after the NFP employment report was examined last Friday.
Looking at the movement on the GBP/USD chart, the price is still hovering around the 1.31000 zone from the end of last week to the beginning of this week.
The latest low was recorded in yesterday's decline which reached around 1.30600 but the price bounced back slowly approaching 1.31000 in the Asian session this morning.
The price that is still moving below the Moving Average 50 (MA50) obstacle line on the 1-hour time frame on the GBP/USD chart signals for the bearish trend to continue.
The price will record the latest low if the decline exceeds yesterday's level before the expectation to head to the 1.30000 zone.
The level is an important support area for the price that was also tested on trading on September 11.
Although it tends to decline, it is not impossible for the price to rise again if there are recent signs that change the current situation.
A rise above the 1.31000 level and breaking through the MA50 barrier could be a signal for a higher bounce to follow.
For the expected increase the price is around the 1.32000 zone which shows the reaction to last week's trade.
