GBPUSD INTRADAY SELLING WHILE BELOW 1.3880

The British pound has started to turn lower against the U.S dollar, as the U.S dollar index start to recover from three-year trading-lows. The GBPUSD pair is currently trading around the 1.3860 level, with intraday sellers largely in control while price-action holds below the key 1.3880 level. With a lack of high-impacting macro-economic data from the United Kingdom on Monday, sterling traders are likely to focus on negotiations centering around the current United States government shutdown.

• The GBPUSD pair remains intraday bearish while trading below the 1.3880 level, key downside targets for the pair are 1.3810 and 1.3720.

• Should price-action on the GBPUSD pair start to trade above the 1.3880 level, attention may shift back toward the 1.3944 and 1.4000 resistance levels.