The British pound continues to retreat against the U.S dollar, hitting 1.3062, during today’s European trading session. Political uncertainty surrounding British PM Theresa May’s tenure as leader of the UK Conservative, has seen the GBPUSD pair lose close to three-quarters of one percent. Price-action currently trades around the 1.3090 level, as the GBPUSD pair stages a minor recovery from the price-lows of the day, ahead of the U.S opening bell.
The GBPUSD pair remains strongly bearish while trading below the 1.3109 technical losses. Further losses towards the 1.3058 and 1.3036 levels appear likely.
Should GBPUSD price-action move above the 1.3109 again level, buyers will likely re-test the 1.3130 and 1.3168 technical levels.
