The UK and the EU are planning to begin talks on the withdrawal from the EU. However, the French foreign minister warned Britain that the UK will face a tough uphill challenge and that Brussels will defend its interests.
The formal talks are set to start next month.
GBP/USD Pulls Back After Modest Gains
The pound sterling is pulling back after failing to post new highs. Price action is stalling near the previous pivot highs of 1.3067. There is scope for a decline back to the support area at 1.2960. However, a higher low formation above this support could indicate a potential inverse head and shoulders pattern.
