The GBP/USD currency pair chart showed slow price movement on Monday as the US markets were on holiday for Presidents' Day.
Flat in the Asian and European sessions yesterday, the price showed a slight increase in the New York session to re-approach the high level reached at the end of last week around 1.26300.
Investors expect the Pound to be influenced by the UK jobs report published in the European session today (Tuesday).
The increase in employment and average earnings will be assessed and will provide an indication of the direction of monetary policy of the Bank of England (BOE) ahead of its policy meeting next month.
In the Asian session this morning, the price slightly retreated from the high reached yesterday to re-approach the focus level of 1.26000.
The price movement hovering around the Moving Average 50 (MA50) line indicator on the 1-hour time frame on the chart will signal further movement.
If the price shows a bounce from the 1.26000 zone, the price increase is likely to surpass yesterday's high before recording a new 9-week high.
The target for the next increase is towards the 1.27000 zone.
However, if the price trend starts to change, the price decrease is seen to approach again around the 1.25000 focus zone.
Continuing the decline lower, the level around 1.24000 is expected to be tested by the price.
