• GBP$ holds slight loss in NY afternoon -0.2% at 1.2170; NY range 1.2177-00

• Series of 4-consecutive lower low, lower highs hints at offered tone

• Pair opened NorAm at 1.2110 amid UK fiscal angst, rising UK gilt yields

• High gilt yields, low political confidence hurt sterling

• Pair boosted off early lows as gilts slip from recent trend highs

• UK fiscal uncertainties, higher funding costs, Trump tariffs, weigh on GBP

• UK's Starmer forced to defend finance minister, fiscal rules; mkts skeptical

• GBP$ supt 1.2100 Mon low, 1.2070 Oct 27 '23 wkly low, 1.20 psychological lvl

• Res 1.220 psychological lvl, 1.2236 Monday high, 1.2323 Daily high Jan 10

GBP Chart:

(Paul Spirgel is a Reuters market analyst. The views expressed are his own)