GBP/USD weaker, challenges 1.3300

The British pound is back to the negative territory vs. the greenback on Wednesday, sending GBP/USD to revisit the 1.3300 support ahead of the European open.

GBP/USD returns from 1.3400

Spot managed to advanced beyond the 1.3400 handle on Tuesday following a softer tone in the US dollar and a decent recovery in the risk-associated space. However, the up moved lacked of follow through, prompting the pair to recede to current levels.

Ahead in the session, leaders of the now 27-nation bloc will discuss/assess the recent ‘Brexit’ vote, grabbing all the attention during the European morning. Data wise in the UK docket, M4 Money Supply is due followed by Mortgage Approvals and BoE’s Consumer Credit.

GBP/USD levels to consider

As of writing the pair is retreating 0.33% at 1.3302 and a break above 1.3418 (high Jun.28) would open the door to 1.3833 (previous 2016 low Feb.29) and finallt 1.4004 (low Apr.6). On the other hand, the next support aligns at 1.3224 (post-Brexit low Jun.24) followed by 1.3126 (20176 low Jun.27).