• Steady after closing up 0.1%, heavy against a broad-based 0.5% USD fall

• Sterling trades at levels not seen since October 2021 on USD weakness

• UK June food prices accelerated by the most since March 2024 - +3.7%

• Charts - 5, 10, & 21-day moving averages climb, positive momentum studies

• 21-day Bollinger bands expand - daily signals retain a topside trending bias

• Thursday's 1.3770 2025 top, then the 1.4250 2021 peak, are first resistance

• Yesterday's 1.3674 low, then 1.3605/1.3571 10 & 21 DMAs are initial support

• Weekly charts track higher after a bullish outside week
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)