• Steady after closing up 0.45%, resilient with the U.S. dollar off 0.25%

• The majority of economists expect just one further BoE cut in November 2024

• Expectations of widening yield spreads as the Fed, ECB and Asia cut supports

• Tight ranges likely in Asia ahead of flash manufacturing and services PMI

• Charts - positive daily 5, 10 & 21 moving averages, as 21-day Bolli's expand

• Daily momentum studies head higher - a bullish daily and weekly setup

• The current uptrend now targets a test of the 1.3144 July 2023 top

• The next resistance above 1.3144 is 1.3410, 0.786% of the 2021-2022 fall

• Sustained break of 1.2921 10-day moving average to end the topside bias

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