If GBP/USD wants to go up again, it has to hit the $1.2800 wall first!

<p>&nbsp;Although the US dollar is still trading strong towards the close of trading in the New York session, the Pound currency is seen to have successfully resisted pressure by showing its strengthening.</p><p><br /></p><p>On the chart of the GBP/USD currency pair, the bullish pattern can still be seen in a relatively flat zone movement throughout the week.</p><p><br /></p><p>The market witnessed the depreciation displayed by the US dollar in the European session and the beginning of the opening of the New York session, but then resumed its strengthening.</p><p><br /></p><p>Market risk sentiment factors still favor the US dollar as a safe-haven currency in addition to expectations for the Federal Reserve's (Fed) monetary policy to remain on its tightening path.</p><p><br /></p><p><br /></p><p><br /></p><p>The price hovering at the level of 1.27000 then jumped up to the level of 1.27870 which also managed to overcome the height of the previous Wednesday.</p><p><br /></p><p>However, towards the close of the New York session, the price pulled back down to around 1.27300 and tested the Moving Average 50 (MA50) support level on the chart's 1-hour time frame.</p><p><br /></p><p><br /></p><p>The price that is still moving above the MA50 continued trading into the Asian session this morning (Friday) still projecting a bullish movement that will continue.</p><p><br /></p><p>The price increase, if successfully extended, will try to overcome the high level reached yesterday to enter the important zone of 1.27800.</p><p><br /></p><p>The zone was previously an obstacle for the price and if the price manages to break through it after this, it will be a more bullish signal for the price to head towards the concentration level at 1.29000.</p><p><br /></p><p>Meanwhile, if the price falls again in these final trading sessions, the 1.27000 level will become a target to be tested again after the price crosses the MA50 support.</p><p><br /></p><p>A further drop in price if it continues will target the lower support zone which is 1.26000.</p>