Sterling continues to pan out sideways within key Fibos

To the base a 50% read off the 1.2156-1.2666 gain is at 1.2411

Topside a 50% retrace off 1.3290-1.2156 is at 1.2723

A marked drop off in 14-day positive momentum noted

Daily RSI still in neutral territory but beginning to fall

Narrowing Bollinger bands suggests tight trade, low volatility to continue

We stand aside for now but lean bearish

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