The British pound has seen a significant price decline against the US dollar currency during the European trading session, following reports that the UK is preparing to drop out of ongoing Brexit negotiations. The GBPUSD pair has a negative intraday trading bias while price trades below the 1.3300 resistance level. Sustained weakness below the 1.3300 level could provoke a price drop towards the 1.3000 price zone.
If the GBPUSD pair trades above the 1.3300 level, key resistance is found at the 1.3410 and 1.3550 levels.
The GBPUSD pair is only bearish while trading below the 1.3300 level, key support is found at the 1.3160 and 1.3000 levels.
