Brexit continues to vex GBP bulls, and headlines have driven the GBP/USD steadily lower for the week. With a thin calendar on the docket for Friday, traders have to face broader markets sentiment alone. The GBP/USD continues to mark in new lows ahead of Friday’s London market session, and the pair continues to drop, hitting 1.3164 as Brexit concerns continue to drag the pair down. Prime Minister Theresa May’s government released the White Paper outlining the PM’s latest Brexit proposal, which has seen resignations from key Brexit ministers in protest over the proposals, which see May desperately hoping to avert a hard Brexit. EU leaders have yet to pass judgement on the latest proposals, but the hard-line negotiation tactics being employed by the EU see little wiggle room for Theresa May, who continues to struggle with wrangling vehement Brexiteers in her parliament. Friday is a sparse showing for both the Sterling and the Greenback on the economic calendar, and market focus will remain on Brexit headlines, with some extra focus on US President Donald Trump, who is in the UK for a multi-day visit, and stated to UK media outlets his dissatisfaction with PM May for not taking his advice on Brexit, and also noted that a soft-Brexit scenario may “kill” chances of UK-US trade negotiations in the future, applying further pressure on Prime Minister May. GBP/USD Technical Analysis Brexit concerns are the headline driver for the Sterling through the week, and the GBP/USD is sinking into fresh lows, though intraday support is being found at the 61.8% Fibonacci retracement level, and bulls have a very small window to push into a reversal of the week’s overall action. Spot rate: 1.3176 Relative change: -0.20% High: 1.3205 Low: 1.3164 Trend: Bearish Support 1: 1.3168 (61.8% Fibo retracement level) Support 2: 1.3094 (previous week low) Support 3: 1.3049 (2018 low) Resistance 1: 1.3244 (previous day high) Resistance 2: 1.3277 (R2 daily pivot) Resistance 3: 1.3361 (current week high) GBP/USD Chart, 15-Minute 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 FX option expiries for July 13 NY cut FX Street 5 years Brexit continues to vex GBP bulls, and headlines have driven the GBP/USD steadily lower for the week. With a thin calendar on the docket for Friday, traders have to face broader markets sentiment alone. The GBP/USD continues to mark in new lows ahead of Friday's London market session, and the pair continues to drop, hitting 1.3164 as Brexit concerns continue to drag the pair down. Prime Minister Theresa May's government released the White Paper outlining the PM's latest Brexit proposal, which has seen resignations from key Brexit ministers in protest over the proposals, which see May desperately hoping to avert… Regulated 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.