Breaking News – Report of EU To Take Legal Action Against The UK – Sell GBP/USD

Brexit: EU’s von der Leyen reportedly set to make statement on legal action against UK

The tweet by RTE’s Europe editor, Tony Connelly, reads:
BREAKING: European Commission President Ursula von der Leyen will make a statement on Brexit at 11hr CET. @rtenews understands that legal action against the United Kingdom is imminent and that a draft “letter of formal notice” has been finalised, triggering legal action.
The letter of formal notice focuses on a breach of the “good faith” articles (4 & 5) of the Withdrawal Agreement, and it will also state that if the Internal Market Bill becomes law it would be further breach of EU + international law.

Price is breaking down from the chart. Price has broken below a mini Double Top chart pattern. It is now moving towards the rising trend line. A break is likely to see price moving towards 1.2770 initially and later to 1.2690.

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