The same situation remains recurring for the ongoing Brexti drama. After the positive sentiment of last week's negotiations, investors once again presented negative reports that Brexit negotiations still failed to reach an agreement.
The issue of fisheries is still a major factor preventing agreement from being reached. British Health Minister Matt Hancock said on Sunday that the European Union (EU) should drop unreasonable demands on the issue.
The concern has caused the Pound Sterling to depreciate again after a series of price increases were successfully displayed last week.
Not only that, reports on the new variant of the Coronavirus in the UK have prompted tightening control of the movement adding to the pressure on Pound trading earlier in the week.
Unlike the EUR / USD pair chart with the opening gap (gap) price around 20 pips, the market saw a bigger gap on the GBP / USD pair chart at the beginning of the Asian session up to over 100 pips!
Closing trading above the 1.35000 level last week, the price opened at a lower level around 1.34000 with the price decline continuing around 100 pips in the Asian session this morning.
Risk sentiment for the Pound will push lower towards the price support zone at 1.33000 before the continued decline is seen to be at the level of 1.32000.
On the other hand, if the price returns to the upside, the resistance level at 1.34000 will be tested again before the price that continues to rise next will lead to the level of 1.35000.
