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  • Trump comments on Brexit see the Pound shift lower in Friday’s early market window.
  • Brexit headlines have been a thorn in the GBP’s side this week, with political contentions seeing key Brexit ministers resigning in protest.

The GBP/USD is knocking lower in early Friday trading, testing into 1.3170 following Brexit comments from US President Donald Trump during his visit to the UK.

Trump has stated that he would like to see a hard Brexit scenario, as Prime Minister Theresa May’s current ‘soft-Brexit’ proposal would “probably kill” hopes of a US-UK trade deal, according to Trump. The US President also lamented to UK media outlets that PM May failed to take his advice on current Brexit negotiations, and Trump is dangling the potential for trade difficulties between the two nations if the UK maintains trade ties with the EU. The Sterling lost the 1.3200 handle on the news, and is slipping lower in the low-volume overnight session.

GBP/USD levels to watch

The Sterling has been trading into the downside this week, as Brexit political struggles hamper the GBP. The pair peaked at 1.3360 on Monday, a one-month high for the GBP/USD, but renewed Brexit concerns, and broader market sentiment flubbing on trade tensions, has seen the Sterling head back into bearish territory, with the year’s low close by at 1.3050.