The intraday selling around the British pound picked up pace in the last hour and dragged the GBP/USD pair further below the 1.3400 round-figure mark. The pair was last seen trading near two-day lows, around the 1.3380 region, down around 0.45% for the day.
The pair extended Friday's sharp retracement slide from the 1.3540 region – the highest level since April 2018 – and witnessed some follow-through selling for the second consecutive session on Monday. The incoming headlines dampened prospects for an imminent Brexit deal, which took its toll on the sterling and turned out to be a key factor that exerted some pressure on the GBP/USD pair.