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U.K. PM May's "third way" Brexit plan, which looked good on Friday, led to a series of resignations on Monday, including Brexit minister David Davis and foreign minister Boris Johnson. May said that "Brexit means Brexit" does really mean Brexit, but not everyone seems to share the same opinion. GBP/USD lost about 180 pips before bouncing, but weaker Manufacturing Production data, released today, doesn't help it.
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GBP/USD closes strongly as politicians agree on Brexit
Late on Friday, U.K. politicians appear to have reached some kind of an agreement on their Brexit stance. GBP/USD greeted that with a 20-pip jump, we'll see if we get any follow-through on Monday. 1.3315 is the initial resistance, expect some short-covering above that. 1.3150 - 1.32 area should now hold, if bulls are to remain in control.