• Unchanged after closing with the USD strong, +0.4% at year-end

• Britain's energy price cap to rise 3% in April, Cornwall Insight says

• A rising energy will keep the BoE cautious on rates, government unpopular

• Charts - daily momentum studies flat line, 21-day Bollinger bands edge lower

• 5, 10 & 21-DMAs ease - a neutral daily setup, weeklies remain bearish

• The 1.2475 November trend base held on Dec 20th - remains the major support

• 1.2730 Dec 18th high, then the 1.2810 December top are initial resistance

• The 1.2446 May 2024 low and the 1.2810 December high are the pivotal levels
Andy

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