British Foreign Secretary Boris Johnson resigns. Theresa May is delivering a speech in the House of Commons. GBP/USD loses more than 100 pips in the last hour. The EUR/GBP pair gained traction in the last hour and erased all of its daily gains to turn positive above mid-0.88s as the GBP came under a strong selling pressure. As of writing, the pair was trading at 0.8870, adding 0.35% on the day. Earlier today, despite the news of British Brexit Secretary David Davis quitting his position, the GBP was able to find demand as the latest talks suggested that Prime Minister Theresa May’s new customs arrangement in the Brexit plan received support from the  government. In fact, the EUR/GBP pair dropped to a daily low near the 0.88 mark. However, May’s office has recently confirmed the reports of British Foreign Secretary Boris Johnson’s resignation and weighed heavily on the GBP as this development heightened the concerns over political integrity in the UK. Meanwhile, May is delivering her speech at the House of Commons saying that the EU’s models on offer for the future relationship at the moment were simply not acceptable. May further added that they needed to be prepared for a range of outcomes including a ‘no-deal Brexit.’ Technical levels to consider The pair could face the first resistance at 0.8900 (psychological level) ahead of 0.8965 (Mar. 7 low) and 0.9000 (psychological level). On the downside, supports are located at 0.8815 (daily low), 0.8750 (Jun. 22 low) and 0.8700/0.8695 (psychological level/May 29 low).  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK Labour Leader Corbyn: Future of jobs and investments are now at stake FX Street 4 years British Foreign Secretary Boris Johnson resigns. Theresa May is delivering a speech in the House of Commons. GBP/USD loses more than 100 pips in the last hour. The EUR/GBP pair gained traction in the last hour and erased all of its daily gains to turn positive above mid-0.88s as the GBP came under a strong selling pressure. As of writing, the pair was trading at 0.8870, adding 0.35% on the day. Earlier today, despite the news of British Brexit Secretary David Davis quitting his position, the GBP was able to find demand as the latest talks suggested that Prime Minister… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.