• +0.05% in a 1.2408-1.2426 range with solid FX matching flow, busy EUR/GBP

• Month-end rebalancing flows likely lead the unusual activity in Asia

• Britain implements delayed third phase of post-Brexit border rules

• Gloom deepened among UK businesses in January, as the budget perculates

• Charts - mixed daily momentum studies, 21-day Bollinger bands expand

• 5, 10 & 21 DMAs coil, negative weeklies - setup shows no strong bias

• Wednesday's 1.2394 low, and then the 1.2353 21-DMA are initial supports

• This week's 1.2523 high, and then the 1.2616 2025 top re first resistance

• Close below the 1.2353 21-day moving average would be a bearish signal
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)