The British pound continues to drift lower against the U.S dollar, as traders remains cautious amidst UK political wrangling and fresh round of Brexit talks between UK and the EU negotiators. The GBPUSD pair is now trading around the 1.4100 mark, after suffering heavy trading losses on Friday following a solid U.S Non-farm payrolls report. Early today the UK services PMI for January fell to a sixteen-month low, further enhancing the bearish intraday sentiment around sterling.
The GBPUSD pair is bearish while trading below the 1.4151 level, further downside towards 1.4080 and 1.4036 cannot be ruled out.
Should the GBPUSD pair start to trade below the 1.4151 level, we may see a price correction back towards the 1.4189 level.
