Price movement on the GBP/USD currency pair chart is still seen to remain within a 100 pip range between 1.26000 and 1.25000.
Closing the last trading day of 2024 on Tuesday, the price tested the resistance level of 1.26000 before plunging back towards the support level of 1.25000.
This is following the US dollar which began to show strengthening until continuing at the opening of 2025 on Wednesday.
However, further declines did not occur where the price still remained above the 1.25000 level until today (Thursday).
However, it is a signal for investors to be careful when the price is still seen to be below the Moving Average 50 (MA50) resistance line on the 1-hour time frame on the GBP/USD chart as a bearish price signal.
If the price moves below 1.25000, it will invite the risk of a more severe fall in addition to the price will record a new low.
The target for an extended decline is to go up to around 1.24000.
The opposite situation can be expected if the price manages to rise above the MA50 barrier for an early signal of a change in the price trend.
Next, the resistance level at 1.26000 will once again be the focus to be tested which is still the main obstacle.
If the resistance is broken, the price will be driven to the previous focus zone at 1.27000.
