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  • The Sterling continues to play into bearish territory, knocking into an all new low for 2018 and testing just below the 1.27 major handle.
  • GBP traders will be tense with the Pound waffling near a critical level with the UK’s latest inflation figures due early in the London Wednesday market session.
  • A new 14-month low for the GBP/USD sees buyers still sitting on the sidelines.

GBP/USD Chart, 15-Minute

Spot rate:   1.2705
Relative change:   -0.10%
High:   1.2724
Low:   1.2690
   
Trend:   Bearish
   
Support 1:   1.2690 (current day low; major technical bottom)
Support 2:   1.2657 (S1 weekly pivot)
Support 3:   1.2600 (major technical level)
   
Resistance 1:   1.2724 (current day high)
Resistance 2:   1.2826 (current week high)
Resistance 3: 1.2836 (three-week high)