Yes, absolutely — with no hassle.
In My Account, click on Payment,
then click the Cancel my subscription button.
Your cancellation will take effect at the end of your current subscription period. This means that from that point on, you will no longer be able to use the advanced features of your account.
Please note: for security reasons, once the cancellation is confirmed, access to your customer data — including bookings made through your account — will be blocked. So, make sure to export any necessary data before cancelling your subscription.