The British pound has fallen sharply lower against the US dollar, as anxiety builds following the rejection of the meaningful vote amendment from UK Conservative party rebels. Sterling has so far found technical support from 1.3244 level, with the GBPUSD pair losing two hundred pips since yesterday’s move to 1.3445. Traders now look for further GBPUSD losses below the 1.3300 level, with the current 2018 trading-low the key support level to watch, at 1.3205.
The GBPUSD pair is strongly bearish while trading below the 1.3300 level, key technical support is now located at the 1.3204 and 1.3162 levels.
If the GBPUSD pair holds above the 1.3244 level, buyers may test back towards the 1.3307 and 1.3340 resistance levels.
