Another inconclusive round of Brexit talks weighed on the Pound, as the pair dropped around 200 pips on Friday, possibly forming a Double-Top pattern, hinting that a bearish reversal might be on the cards. The recent US Dollar strength along with Brexit uncertainties overshadowed the optimism surrounding the economic rebound in Britain. Looking forward, traders may witness a range bound session today as they await this week’s Jackson Hole Symposium. However, if the Dollar continues to recover and the Cable breaks below 1.3080, then we will probably see the pair retesting 1.30.
Support: 1.3080 / 1.30
Resistance: 1.3165 / 1.3260
