The GBP/USD pair once again faces rejection near a technically significant 200-day Simple Moving Average (SMA) and turns lower for the second consecutive day on Wednesday. Spot prices stick to modest intraday losses below the 1.3400 mark through the early European session and react little to the latest UK consumer inflation figures.

The UK Office for National Statistics (ONS) reported that the headline Consumer Price Index (CPI) rose 3.0% over the year in February, matching the previous mon