The British pound has dropped to a fresh 2018 trading-low against the US Dollar during the European trading sessions, as concerns over a Brexit no-deal for the United Kingdom grow. The GBPUSD pair risks falling below the 1.2900 level while price continues to trade below the 1.2957 technical level. Traders should also note the bearish head and shoulders pattern that has developed across the lower- time frames.
The GBPUSD pair is strongly bearish while trading below the 1.2957 level, key support is now found at the 1.2800 and 1.2840 levels.
If the GBPUSD pair moves above the 1.3000 level, buyers are likely to test towards the 1.3130 and 1.3170 resistance levels.
