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GBPUSD Remains Weak Over Brexit Delay

The British pound continues to trade to the downside against the US dollar, with price briefly dipping below the 1.2850 support level. The GBPUSD pair remains weak after EU and UK negotiators admitted that they would fail to meet the October deadline for a Brexit deal. Continued weakness below the 1.2850 level should encourage further selling, while buyers need to move price above the 1.2900 level.

The GBPUSD pair is bearish while trading below the 1.29000 level, key support is found at the 1.2850 and 1.2828 levels.

If the GBPUSD pair moves above the 1.2900 level, key resistance is then found at the 1.2930 and 1.2950 levels.

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