GBP/USD hit a session low of 1.3387 today, but has since bounced back
As continuous stalling in Brexit talks continue to weigh in on the pound, there's still a bit more that sellers need to do to send the pair lower.
Looking at the hourly chart, we're seeing that it broke through the 200-hour MA but is struggling to find a way past the 50.0 retracement level from the swing high formed on 28 Nov to 1 Dec.
The pair tested the same level yesterday but failed and it went back up to 1.3450 levels before finding sellers in the region again.
This will be a key level to break if sellers are going to drive the pair to lower levels. Some good two-way play to be had so far I would say.
Anyway, we're yet to have any major Brexit talks hit the headlines but I reckon it's only a matter of time. In any case, the silence itself is not entirely positive news for sterling since it could cause markets to get a bit iffy and jittery.