• +0.5% near the top of a 1.2142-1.2219 range, with USD/JPY -1.9% post BoJ

• No sterling related news in Asia, or significant scheduled UK data today

• Expecting risk appetite and the USD to lead sterling moves offshore

• Techs; daily momentum studies, 5, 10 & 21 day moving averages conflict

• 21 day Bolli bands contract - uptrend losing momentum, needs progress soon

• Close below resilient 1.2161 21 DMA bearish for 1.1634 38.2% Sep/Dec bounce

• Well tested 1.2441, 61.8% of 2022 fall capped - remains pivotal resistance

• Asian 1.2142 low and London 1.2241 high initial support/resistance

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