The British pound has given back Tuesday’s trading gains against the U.S dollar, as UK political woes continue to hamper sterling upside. The GBPUSD pair has declined during the European trading session, as the UK Conservative party faces another scandal, weakening Theresa May’s position as British Prime Ministers. Price-action currently trades just below the 1.3130 technical level, after earlier hitting 1.3175, ahead of the start of the U.S trading session.
The GBPUSD pair still retains an intraday bullish bias while trading above the key 1.3109 technical level, further upside attempts towards the 1.3138 and 1.3161 levels remains likely.
Should price-action close below the 1.3109 level for a sustained basis, intraday selling towards the 1.3078 and 1.3030 levels remain likely.
