Sterling hitting a softer tone in early Tuesday action. Brexit headlines are poseing a thorny problem for Sterling traders as the UK prepares to deliver the first round of monthly GDP figures. The GBP/USD is trading down near 1.3240 ahead of Tuesday’s London market session, and the Sterling continues to be plagued by Brexit concerns. Prime Minister Theresa May’s new ‘soft Brexit’ proposal has been a shot to the foot of the PM’s current leadership team, with EU leaders in Brussels already unlikely to accept the new “third option” proposal, and May’s UK cabinet fracturing over the halfway solution, with the UK’s Brexit Minister Boris Johnson resigning over the weekend, along with Brexit Secretary David Davis and three other parliamentary Brexit ministers all resigning in protest over the new proposals, which hard-line Brexiteers say betrays the original referendum results. With Brexit concerns continuing to put a drag on the GBP’s chart action, Tuesday sees a raft of economic data, all dropping at 08:30 GMT. May’s m/m Industrial Production is expected to come in at 0.5% (last -0.9%), and the m/m Manufacturing Production figure for May is also expected to improve to 0.7% (last -1.4%), but the headline figure for the day will be May’s m/m GDP figure for the UK, forecast to come in at 0.3%. This will be the first publishing of monthly GDP figures for the UK, and this particular metric could see irregular market impact as traders grapple with digesting the new metric format. GBP/USD levels to watch Markets are twisting on the Sterling, which held a bullish market position until Brexit fears shattered the market quiet, and as FXStreet’s own Valeria Bednarik noted on the GBP’s technical stance, “technically, the 4 hours chart shows that the pair is currently battling around a still bullish 20 SMA, while technical indicators have stalled their declines around their mid-lines, suggesting that the market likes the softer-Brexit option, as long as May’s head doesn’t roll, and that they are not yet willing to unwind Pound longs.” Support levels: 13120 1.3190 1.3155 Resistance levels: 1.3285 1.3320 1.3365 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 NZ: Economy shedding a bit of momentum – ANZ FX Street 4 years Sterling hitting a softer tone in early Tuesday action. Brexit headlines are poseing a thorny problem for Sterling traders as the UK prepares to deliver the first round of monthly GDP figures. The GBP/USD is trading down near 1.3240 ahead of Tuesday's London market session, and the Sterling continues to be plagued by Brexit concerns. Prime Minister Theresa May's new 'soft Brexit' proposal has been a shot to the foot of the PM's current leadership team, with EU leaders in Brussels already unlikely to accept the new "third option" proposal, and May's UK cabinet fracturing over the halfway solution, with… 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.