GBP/USD Technical Analysis: Skidding across the floor at 1.2700

• The GBP/USD is trading stiffly into the 1.2700 technical barrier heading into Wednesday's London market session after seeing continuing Brexit declines, and the near-term pattern is lending itself to fast sell-offs followed by middling inaction.
• GBP/USD Forecast: Sterling trapped in a downward spiral near a 10-week low
• GBP/USD Forecast: Likely to defend YTD lows ahead of BoE’s Super Thursday

GBP/USD, M15

• Looking further out, the Cable remains underneath a rock-solid declining trendline with the 50- and 200-hour moving averages pinned firmly in a bearish trend.

GBP/USD, H1

• On the H4 candles, the effects of Brexit fears is a clear picture of risk-off in the Cable, and the GBP/USD is trapped in a easy-to-ride bearish pattern.

GBP/USD, H4

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