GBP/USD falls to a low of 1.3995 on the day
The range is still relatively narrow so far - only 27 pips but cable is on the lower end of that range in trading at the moment.
Yesterday's fall in the pair was only stopped by the support level from 30 January @ 1.3980. And that will be the next level to watch out for in the pair towards the downside, though it's not a major support level in my view.
The next key support to look out for is the 61.8 retracement level @ 1.3804 which is where the pair managed to find a base in February and March (somewhat) before rising back up towards the year's highs at the end of last month.
In terms of what to look out for, Brexit rhetoric should take a backseat in the meantime after the transitional agreement was signed last month so the next key focal point for sterling will be the BOE. But the more immediate risk for cable will be on the dollar's side of the equation - which is the US jobs report later today.
