• The GBP/USD pair fell as low as 1.2903 in the early US session as worries over Britain's exit from the European Union weighted on the currency pair.
   
• The pair slipped sharply after British Foreign Secretary Boris Johnson said he expected the formal divorce proceedings between Britain and the EU to begin early next year.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.3117 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• To the upside, immediate resistance can be seen at 1.2990, a break above this level would expose the cable to next resistance level at 1.3071.
   
• To the downside immediate support can be seen at 1.2903, a break below at this level will open the door towards next level at 1.2856.
  
  Resistance Levels
  
  R1:  1.2990 (50% Retracement level)       
  
  R2: 1.3071 (61.8% Retracement level)    
  
  R3: 1.3117 (Sep 22nd high)
  
  Support Levels
  
  S1: 1.2903 (38.2% Retracement level)                   
  S2: 1.2856 (Aug 15th lows)
  
  S3: 1.2800 (Psychological levels)