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German Foreign Minister, Heiko Maas was out with some Brexit-related comments in the last hour and said that a solution in talks with the UK is difficult but we believe that it is possible. EU will continue negotiations as long as there is even a small possibility of reaching an agreement, the minister added further.

Separately, Ireland’s Foreign Minister, Simon Coveney sounded optimistic and said that we still believe that is possible to get a Brexit deal.

Conversely, the UK Prime Minister, Boris Johnson reiterated that talks remain deadlocked and that it is very, very likely that we will have a no-deal Brexit from where we stand now.

The incoming headlines did little to provide any respite to the British pound. However, slightly oversold conditions on intraday charts assisted the GBP/USD pair to rebound around 40 pips from multi-week lows. The pair was last seen hovering around the 1.3175 region.