GBPUSD falls on the headlines.
Bloomberg is reporting that Brexit talks are on hold as UK prime minister May's team cannot agree.
- There will certainly be no plan put forward on the British side before next Monday's budget
- The assessment followed a stormy meeting of May's cabinet, when ministers battled over how to avoid customs checks at the Irish border without tying the UK into the EU's trade regime forever.
- 7 senior pro-Brexit ministers spoke out against the proposal that would allow the UK to stay inside the EU's custom union indefinitely
- many EU member states now struggle to see how making push any reasonable negotiated accord through Parliament, and look instead to prepare for a no-deal
- May's office says negotiations are ongoing at a technical level. However there are no high level political involvements from Raab (UK Brexit secretary) or EUs Barnier.
The GBPUSD pushed lower but found support buyers against a support target area at 1.2786-98
