The British pound continues to fall against the U.S dollar after buyers again failed to gain traction above the 1.3400 level on Monday. The GBPUSD pair is now slipping below the key 1.3340 support level, ahead of the release of key inflation data from the United Kingdom economy. UK CPI figures out during the European trading session are expected to show that inflation rose 0.2 percent during the month of November, and 3 percent year-on-year. Sterling remains focused on Brexit negotiation headlines coming from Brussels, and the outgoing FED Chair Janet Yellen’s last scheduled monetary policy statement on Wednesday.
The GBPUSD pair remains intraday bearish while trading below the 1.33400 level, further downside towards the 1.3300 and 1.3220 levels seems likely.
If GBPUSD buyers can hold price-action above the 1.3340 technical level, further buying towards the 1.3400 and 1.3470 resistance levels remains possible.
