The British pound has slipped lower against the U.S dollar, moving towards the 1.3430 level during the early Asian session. A stronger U.S dollar index and political jitters are weighing on the GBPUSD pair, as the UK today reaches its December 4th deadline to submit an enhanced Brexit proposal to the European Union. The British pound is likely to be increasingly volatile today, as markets awaits news of a potential deal between the UK and the EU. Traders also look to the release of the UK Construction PMI in the upcoming European trading session.
The GBPUSD pair remains intraday bearish while trading below the key 1.3450 level. Further downside towards the 1.3400 and 1.3360 levels seems possible.
Should price-action on the GBPUSD pair start to hold above the 1.3450 level, buyers are likely to push price-action back towards the 1.3520 and 1.3549 resistance levels.
