• Trades off 0.05% in a very tight 1.2156-1.2167 range, 10yr UST +5bp 4.977%

• Modest moves in the majors in Asia, as Geopolitics curtails risk appetite

• There is no UK data today, but Tuesday will be busy with employment and PMI

• Markets expect stable rates on Nov 2, BOEWATCH prices 5.25% at 86.71%

• Charts; 5, 10 & 21-day moving averages ease, momentum studies conflict

• 21-day Bollinger bands contract- mixed signals suggest further consolidation

• Neutral setup leaves the October 1.2337 high as the first major resistance

• 1.2038, the October and current trend low remains the initial key support

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