• +0.05% at the top of a tight 1.2466-1.2474 range with light volumes on D3

• Markets on hold into May rate decisions amid U.S. debt ceiling uncertainty

• No tier 1 UK data, so the U.S. dollar and risk appetite to lead sterling

• Charts; Momentum studies flat line, 5, 10 & 21-day moving averages conflict

• 21-day Bollinger bands contract - consolidation continues - neutral setup

• 1.2346 mid-April low and 1.2545 2023 high are key support and resistance

• NY 1.2455-1.2515 range is the initial support and resistance

• Close above 1.2545 2023 high would be a strong positive signal

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