• Up 0.3%, as the USD eases, with E-mini S&P +0.6%, 10yr UST -5bp 3.427%

• Profit taking in U.S. markets into what is expected to be a hawkish FOMC

• Sterling to remain heavy, unless the Fed disappoints nL1N2Y200S

• Charts - momentum studies, 5, 10 & 21 daily and weekly moving averages fall

• Momentum studies track south - strong bearish trending setup

• 1.2088 lower 21 day Bollinger band suggests sterling oversold short term

• NY 1.1934 base then nothing until the 1.1413 2020 spike lower

• 1.2194 falling 5 DMA then early London 1.2210 high resistance

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