• Steady after closing down 1.15% amid rising UST yields and USD strength

• Thursday's UK data dump suggests that economic growth remains sluggish

• Charts; sharp reversal and close below 1.2191 10 DMA ends the topside bias

• 5, 10 & 21-day moving averages edge lower, as momentum studies conflict

• 21-day Bolli bands contract- mixed signals suggest a period of consolidation

• Neutral setup leaves this week's 1.2337 high as initial major resistance

• 1.2038, the October trend low is key support - close below would be bearish

• 1.2145/50 601 mln and 1.2200 635 mln are the close strikes for Oct 13

For more click on FXBUZ