The British pound has fallen below the 1.3100 level against the US dollar, as sterling traders started to book profits early ahead of an important week for Brexit negotiations. Despite optimism over an impending Brexit deal buyers failed to hold price above the GBPUSD pairs 100-day moving average, at 1.3106. Sellers will look for further losses below the 1.3056 level, while buyers need to move price back above the 1.3106 level.
The GBPUSD pair is further bearish while trading below the 1.3056 level, key support is now found at the 1.3000 and 1.2940 levels.
If the GBPUSD pair moves above the 1.3056 level, buyers are likely to target the 1.3106 and 1.3160 resistance levels.