• Flat after jumping from 1.2613 to 1.2641 after the NY close, then retreating

• FX Matching shows heavy early volumes, potential stop run or option trigger

• UK inflation leads data risk RTRS poll Core CPI 3.7% y/y, CPI 2.8% y/y

• UK pay growth holds at the lowest level since 2021 - HR data firm Brightmine

• Charts- 5, 10 & 21-day moving averages climb, as 21-day Bolli bands rise

• Positive daily momentum studies - bullish daily signals underpin sterling

• Friday's 1.2550 low and then Thursday's 1.2442 base are initial support

• Today's 1.2641 2025 high, then the 1.2788 200-DMA are the first resistance
Andy

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