GBP/USD slips back to 1.3440, session lows

• Cable loses momentum around 1.3440.
• Brexit headlines key for GBP.
• UK services PMI next on tap.

The Sterling is losing further ground at the end of the Asian session on Tuesday and is now prompting GBP/USD to drop to the 1.3445/40 band, or daily lows.

GBP/USD attention to PMI

GBP is now under pressure and continues to shed ground following Monday’s advance, as a Brexit deal remains elusive after yesterday’s meeting between EU’s J.C.Juncker and PM T.May.

In addition, the ‘Irish border’ issue still remains far from solved and further meetings are expected between the DUP and Theresa May in the next hours.

In the meantime, the greenback keeps the buoyant stance in the first half of the week amidst speculations over the US tax reform.

Later in the session, UK’s services PMI is due later while the ISM non-manufacturing and October’s trade balance figures will be the salient events in the US calendar.

GBP/USD levels to consider

As of writing, the pair is losing 0.27% at 1.3445 and a break below 1.3395 (10-day sma) would aim for 1.3282 (21-day sma) and then 1.3221 (low Nov.28). On the other hand, the immediate up barrier aligns at 1.3538 (high Dec.4) seconded by 1.3550 (high Dec.1) and finally 1.3658 (2017 high Sep.20).