Price movement on the GBP/USD currency pair chart still remains above the 1.29000 support zone until Tuesday yesterday.
There is a spike in price but remains in a range of around 60-70 pips since trading at the beginning of the week.
The US dollar is seen not continuing to strengthen further after the recovery that continued at the close of last week until the opening of the beginning of this week.
Investors remain cautious ahead of a new round of Trump tariffs that will begin in early April.
The Pound currency is traded cautiously ahead of the latest UK inflation data report to be published in the European session.
The price on the GBP/USD chart hovers above the 1.29000 zone and shows a rebound in the European session yesterday reaching around 1.29600.
The price fell slightly in the New York session and slowed around 1.29300 to continue trading in the Asian session this morning.
Above the 50 Moving Average (MA50) support line on the 1-hour timeframe of the GBP/USD chart, investors are looking for clues as to the price's future direction.
If a bounce is shown above yesterday's level, the resistance zone at 1.30000 will then be the focus again.
The zone was tested several times in trading last week but has yet to be broken through.
Meanwhile, if there is a decline, the price support level at 1.29000 will be attempted to be broken before continuing the decline lower.
Next, the 1.28000 zone will be the target for the price in the continued downtrend.
