The pound sterling saw no respite as it continued on with the declines from last week. Economic data was sparse on Monday. But, some big-ticket events are due this week.
These include the Bank of England monetary policy meeting alongside the January 31 deadline, when the UK will be formally leaving the EU.
GBP/USD Could Retest 1.3000 Support
The declines in the currency pair will see a move lower to the support area of 1.3000. This marks a retest of the initial breakout from the falling trend line as well.
As long as the 1.3000 support holds, we could expect the upside bias to build up. But with two big events lined up, there is scope for the currency pair to turn volatile.
