The British pound has fallen sharply against the U.S dollar, hitting 1.3113, due to a stronger U.S dollar index and unfavorable Brexit headlines comes from Brussels on Tuesday. The GBPUSD pair currently trades around the 1.3134 technical level, ahead of today’s release of third fiscal quarter Gross Domestic Product figures from the United Kingdom economy.
The GBPUSD pair remains strongly bearish while trading below the 1.3157 level, further intraday declines should be expected towards the 1.3113 and 1.3087 levels. Extended intraday support is located at 1.3040.
Should price-action move above the 1.3157 level, buyers will likely target the 1.3180 and 1.3201 levels. Extended resistance is found at 1.3228 and 1.3268.
