The British pound remains under downside pressure against the U.S dollar after EU officials expressed concerns that the UK will be unable to finish Brexit trade negotiations, before finally exiting EU on March 2019. The GBPUSD pair currently trades around the 1.3390 level, after dipping towards the 1.3340 support level earlier this morning. The pair is likely to become increasingly volatile as the trading week progresses, with both the FED and BOE deciding on interest rates, amidst ongoing Brexit trade negotiations in Brussels.
The GBPUSD pair remains bearish while trading below the 1.3400 level, further downside towards the 1.3340 and 1.3320 levels seems likely.
Should GBPUSD buyers move price-action above the 1.3400 technical level, further buying towards the 1.3470 and 1.3550 levels remains possible.
