Downside risks dominated the GBP/USD exchange rate on Monday. As a result, the British Pound fell by 89 pips or 0.65% against the US Dollar during Monday’s trading session.
All things being equal, the currency pair could continue to edge lower during the following trading session. The potential target for bearish traders would be near the weekly S3 at 1.3567.
However, the weekly support level at 1.3664 could provide support for the currency exchange rate in the shorter term.
