Breaking: GBP/USD tumbles below 1.29 as EU set to slap legal action against the UK

European Commission President Ursula von der Leyen will make a statement on Brexit shortly, in which she is set to announce legal action against the UK following the approval of a law that violates the Brexit Withdrawal Agreement. 

Earlier, Reuters reported that London and Brussels failed to achieve a breakthrough in talks about future relations. 

GBP/USD is falling toward 1.2860, down from the daily high of 1.2950. Support is seen at 1.2810 while resistant is at around 1.29. 

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