The British pound has moved sharply lower against the US dollar, after meeting strong technical selling from just before the key 1.3400 resistance level on Monday. The GBPUSD pair currently trades close to the 1.3300 level, with downside pressures likely to build if sellers breach the 1.3300 level. Traders now look towards the release of PMI Services data from the United Kingdom economy, and the resumption of Brexit talks between the UK and the EU.
The GBPUSD pair is intraday bearish while trading below the 1.3340 level, key support is now located at the 1.3300 and 1.3258 levels.
If the GBPUSD pair moves above 1.3340 level, we may see buyers once again testing towards the 1.3400 resistance level.
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