The USD is trading higher in early European trading as it is progressing against the rest of the major currencies, with the GBPUSD pair outstandingly falling beneath 1.2700. Price currently is battling with support around 1.2698.
As referenced a week ago, the Brexit saga seems as though it will keep on running its course and with political headwinds remaining, the contention keeps on being that things ought to deteriorate for the GBP before they show signs of improvement.
Further support seen around 1.2665-75. At this stage, it’s difficult to wager against any strong bounce in pair except if the USD itself cedes.