Cable falls to a low of 1.3406

The GBP is still suffering from a Brexit disappointment hangover. It seems that all talk and no play makes Jack a very sad boy. GBP/USD hitting fresh session lows.

There's a minor low point (from 29 Nov) providing relief at 1.3406 for the pair and of course the 200H MA sitting near the 1.3400 level should provide some form of support around that region if we fall further.

But at this point, the sharp decline here is a good indication that sellers are easily in the driver's seat. And this is all before more Brexit talks hit the wires.

If 1.3400 fails to hold, we could see sharper declines in the pair with another minor low (also from 29 Nov) of 1.3375 and 1.3350 level the next levels to look out for.