The Sterling is holding near the week’s highs as Brexit concerns get cooled off on PM May taking the reigns of EU negotiations. A thin economic calendar for Wednesday leaves overall market sentiment to decide the pair’s direction. The GBP/USD is trading just beneath 1.3150 ahead of Wednesday’s London market session. The Sterling dipped to a low of 1.3070 on Tuesday, but managed to stage a rebound to bring the week into positive territory, and a new high has been marked in for the week at 1.3160, giving today’s bulls a target to aim for. Wednesday’s calendar for the GBP/USD is on the thin side for both the Sterling and the Greenback, with BBA Mortgage Approvals at 08:30 GMT and CBI Distributive Trades Survey at 10:00 GMT, both low-tier indicators for the UK, while the most important figure for the upcoming US session will be monthly New Home Sales figures for June at 14:00 GMT, forecast to contract from 689 thousand to 670 thousand. After months of tail-chasing and squabbling within the UK’s parliament, Prime Minister Theresa May has announced that she will be personally leading up negotiations with the European Union on securing trade agreements in preparation for Brexit, but with March 2019 fast approaching and little leg-work done on establishing a safe trade conduit between the UK and the EU, good tidings on the Brexit are having a muted effect, and the Sterling remains close to the bearish side as action keeps the pair restrained near the week’s opening prices. GBP/USD Levels to watch Markets are spreading on where the GBP/USD should head next as technical indicators begin to middle with little action in either direction, and as FXStreet’s own Valeria Bednarik noted, “the 4 hours chart shows that the pair met buyers in an approach to a mild bullish 20 SMA, but also that it holds below a bearish 200 EMA, while technical indicators turned sharply lower, now nearing their mid-lines, not enough to confirm a bearish extension but clearly indicating limited buying interest.” Support levels: 1.3080 1.3035 1.3000 Resistance levels: 1.3155 1.3195 1.3240 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price analysis BTC/USD hits $8,470 amid growing confidence in trend reversal FX Street 5 years The Sterling is holding near the week's highs as Brexit concerns get cooled off on PM May taking the reigns of EU negotiations. A thin economic calendar for Wednesday leaves overall market sentiment to decide the pair's direction. The GBP/USD is trading just beneath 1.3150 ahead of Wednesday's London market session. The Sterling dipped to a low of 1.3070 on Tuesday, but managed to stage a rebound to bring the week into positive territory, and a new high has been marked in for the week at 1.3160, giving today's bulls a target to aim for. Wednesday's calendar for the GBP/USD… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.