Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will probably NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
UK PM Boris Johnson is reportedly considering a new deadline to stop any extension of of the Brexit transition from going beyond end-2020. Fears of a hard Brexit cropped up soon after and caused GBP to lose gains across all pairs.
To recap: the sterling pound rallied in earnest in the run up to the recent election and staged a follow-up relief rally after the big Tory win. GBP is now coming off highs but the environment remains volatile as market players brace for unpredictable political developments.
The following are S/R levels for cable and some choice GBP pairs.