• -0.05% in a 1.2950-1.2972 range - occasional heavy flow on LSEG FX Matching

• Brent oil down 4.35% on Iran, US election jitters 10yr UST +4bp 4.278% TWEB

• GBP/JPY +0.9% after the inconclusive Japanese election, Nikkei +1.6%

• UK business confidence is at 4-month lows on uncertainty about the budget

• Budget a litmus test for PM Starmer dealing with unprecedented circumstances

• Charts - mixed daily momentum studies as 21-day Bollinger bands contract

• 5, 10 & 21-day moving averages fall - signals retain the downside bias

• 1.2900 0.382% Oct-Sep rise held, the 1.2736 0.5% is the next support

• Friday's 1.2998 high, then last week's 1.3058 top are the first resistance

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