The currency pair declined last week and tested the support at 1,2108. The main reason for this downtrend was the fact that the new UK Prime Minister supports the idea of Brexit ‘in any case’ meaning that he will lead the country to Brexit even without a deal but before the October 31, 2019.

The British Pound is still under the pressure fundamentally, but GBP/USD has already reached the lows that the currency pair has reached after the Brexit voting and it is likely to stop there and reverse towards 1,3272.