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GBP / USD was marginally moving throughout the Asian session near 1.3080 and rose during European trading, but lost its strength after touching 1.3100 and came under intense downward pressure to reach 1.3023, recording losses of 0.37% during the day.
Concerns about the second wave of Covid 19 and the lack of any progress in the Brexit talks make it difficult for the Sterling to find the demand. The British Ministry of Health has reported 938 new cases with Covid 19, the second-highest daily increase since early June. The total cases in the UK reached 305,623.
The Bank of England will announce the rate decision on Thursday in addition to the policy statement.
The dollar remained resilient against its counterparts, with the US dollar index posting modest gains above 93.50, preventing GBP / USD from rebounding.
