In a recent interview, the UK Prime Minister Theresa May says, “I will still have a job in two weeks’ time”. The statement came in response to Britain’s opposition Labour Party who ramped up the pressure on Prime Minister Theresa May Sunday, saying it will call for a no-confidence vote if Parliament rejects her Brexit deal on December 11.

The GBP/USD has crashed more than 70 pips to trade at $1.2720, violating the long-held support zone of 1.2725. This can extend sell-off until $1.2665 and closing below $1.2665 is likely to add further selling in the pair.