GBP/USD slides in Tokyo, breaks below 1.33

GBP/USD has come under pressure in the first hours of business in Tokyo, last trading just below the 1.33 round number, which translates in over 70 pips lower compared to the session high reached by NY close.

On Brexit, as reported earlier, Geraint Davie, from the UK opposition Labour Party, formally submitted a notice for a 2nd Brexit referendum, noting that voters must now be given a chance to approve or reject the country's exit plan before formal negotiations begin, Reuters reported.

Meanwhile, European Council President Donald Tusk and European Commission President Jean-Claude Juncker held a joint press conference post the EU summit in Brussels, noting: "The process of invoking article 50 cannot take months. EU leaders want the UK’s plans “to be specified as soon as possible.”

GBP/USD technicals

Valeria Bednarik, Chief Analyst at FXStreet, notes: "The 4 hours chart shows that the 20 SMA extended its decline down to 1.3560, whilst the RSI indicator holds within oversold levels, and the Momentum indicator has erased oversold readings, now flat below the 100 mark.  The weekly high stands at 1.3485, and an upward extension beyond it could see the pair extending its recovery first to the mentioned 1.3560 level, while then  filling the weekly opening gap at 1.3630."