The GBP/USD pair fell as low as 1.2903 in the early US session as worries over Britain's exit from the European Union weighted on the currency pair. The pair slipped sharply after British Foreign Secretary Boris Johnson …
The GBP/USD pair fell as low as 1.2903 in the early US session as worries over Britain's exit from the European Union weighted on the currency pair.
The pair slipped sharply after British Foreign Secretary Boris Johnson said he expected the formal divorce proceedings between Britain and the EU to begin early next year.
The ongoing weakness is set to continue for this pair as the resistance level at 1.3117 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, immediate resistance can be seen at 1.2990, a break above this level would expose the cable to next resistance level at 1.3071.
To the downside immediate support can be seen at 1.2903, a break below at this level will open the door towards next level at 1.2856.
