The Pound currency in last Friday's trading was seen to have successfully shown its increase in value against the US dollar after a flat movement since the beginning of the week.
Meanwhile, the US dollar remained slow and slightly weakened towards the close of 2024 trading.
Analysts have warned of the risk of further depreciation of the US dollar due to the expectation of profit-taking activities that could occur early this week.
However, the US dollar is expected to strengthen again at the opening of 2025 and potentially put pressure on the Pound again.
Examining the GBP/USD currency pair chart last week, the price leveled off above the 1.25000 zone before a surge at the end of the week approaching the 1.26000 level again.
The 1.26000 level is seen as a resistance for the price to break through to maintain the bullish signal after successfully staying above the Moving Average 50 (MA50) support line on the 1-hour time frame on the chart.
A higher rise after passing 1.26000 would expect the 1.27000 zone to be targeted again.
The zone was an important stopover for the price in mid-October before the price decline began.
Meanwhile, if the price fails to continue the rise and instead shows a decline again, the target is to retest the support at 1.25000.
If it breaks below, the price will record a new 8-month low with the target heading towards the 1.24000 zone.
