The GBP/USD pair Monday's downfall gained momentum during early European trading session, with the pair now dropping to a fresh session through level.
During the last few trading hours on Friday, the pair tumbled below 1.4200 level after the latest ORB poll on 'Brexit' referendum showed 55% of voters’ preferred UK to exit from the EU while 45% wanted to stay. The pair continued with its slide on Monday as uncertainty surrounding the UK-EU referendum and its implication on the UK economy continues to weigh on investor sentiment.
Meanwhile, the funding currency, Euro, is finding support from the prevailing risk-off sentiment across Asian / European equities as investors turn cautious ahead of this week's major central bank monetary policy decisions.
From the Euro-zone, no major economic releases are slated for releases ahead of Tuesday's employment and industrial production data.
Technical levels to watch
Since the pair is sustaining its weakness below 1.4150, it seems more likely to extend the downslide immediately towards 1.4100 round figure mark, before heading towards its next major support near 1.4055-50 region. On the flip side, any recovery attempts might now confront immediate resistance near 1.4200 handle, above which the upside momentum could get extended towards 1.4255-60 horizontal resistance.
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