Cable briefly dipped below 1.2300 to trade 1.2298.
Some stops still below to 2290, with more reported in size at 1.2250.
1.2200 is an important psychological level and any break below could see a run to 1.2000.
Dealers suggest that the reality of an Article 50 invocation later this month is weighing.
Buy stops reported at 1.2485.