Sterling continues on the defensive as a lack of positive Brexit momentum keeps the GBP on the back foot. The upcoming London session sees little UK-related data, but the US markets will be getting US CPI figures. Broader markets remain mixed as traders attempt to recover risk appetite as trade angst grips global assets. The GBP/USD continues to shuffle its feet into recent lows, trading into the 1.3200 major level ahead of Thursday’s London markets. Broader market sentiment has been trying to recover following the announcement of further US-China tariffs, with the Trump administration targeting another $200 billion in Chinese imports. The tariffs are expected to come into effect sometime after the eight-week public commenting period, but the GBP/USD continues to push into lows as Brexit concerns drag the Sterling down. This Thursday is expected to see the UK’s latest White Paper on Brexit, which will unveil the full details of Prime Minister Theresa May’s latest “third option” Brexit proposal, which saw close support in an Exchequers vote. PM May’s latest proposal has left hard-line Brexiteers within the parliament deeply unsatisfied, and five key members of the UK’s Brexit department have resigned from their posts in protest, with the UK’s Brexit pioneer Boris Johnson calling the proposal a betrayal of the original Brexit referendum’s results. PM May is seeking  to keep both sides of the ongoing Brexit negotiations happy with her latest proposals, which see the UK attempting to remain in key EU trade agreements in exchange for remaining under specific EU jurisdictions, a play that is unlikely to receive much support from the leavers, the remainers, or EU leaders themselves. For Thursday’s economic calendar, the UK sees another quiet session, with only the Bank of England’s (BoE) Credit Conditions Survey, due at 08:30 GMT, but the following US session will be seeing US core CPI figures at 12:30 GMT, which markets are expecting to tick upwards to 2.3%, a minor shift higher compared to the previous reading of 2.2%. GBP/USD levels to watch The Sterling’s technical outlook is a grim affair, and the Dollar-Pound pairing is seeing room open up for further downside, and as FXStreet’s own Valeria Bednarik noted, technical indicators continue to push further into bearish readings: “the technical picture favors another leg lower for the pair, as in the 4 hours chart, it has remained capped by the 20 SMA, while technical indicators gain accelerate south within negative levels. The weekly low at 1.3189 is the immediate support, with a break below it opening doors for an extension down to 1.3110.” Support levels: 1.3190 1.3155 1.3110 Resistance levels: 1.3245 1.3285 1.3320  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 EUR/USD: Corrective rally faltered ahead of US CPI release FX Street 4 years Sterling continues on the defensive as a lack of positive Brexit momentum keeps the GBP on the back foot. The upcoming London session sees little UK-related data, but the US markets will be getting US CPI figures. Broader markets remain mixed as traders attempt to recover risk appetite as trade angst grips global assets. The GBP/USD continues to shuffle its feet into recent lows, trading into the 1.3200 major level ahead of Thursday's London markets. Broader market sentiment has been trying to recover following the announcement of further US-China tariffs, with the Trump administration targeting another $200 billion in Chinese… Top 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.