Brexit talks on hold as PM May's team cannot agree

GBPUSD falls on the headlines.

Bloomberg is reporting that Brexit talks are on hold as UK prime minister May's team cannot agree.

• There will certainly be no plan put forward on the British side before next Monday's budget
• The assessment followed a stormy meeting of May's cabinet, when ministers battled over how to avoid customs checks at the Irish border without tying the UK into the EU's trade regime forever.
• 7 senior pro-Brexit ministers spoke out against the proposal that would allow the UK to stay inside the EU's custom union indefinitely
• many EU member states now struggle to see how making push any reasonable negotiated accord through Parliament, and look instead to prepare for a no-deal
• May's office says negotiations are ongoing at a technical level. However there are no high level political involvements from Raab (UK Brexit secretary) or EUs Barnier.

The GBPUSD pushed lower but found support buyers against a support target area at 1.2786-98