• Steady after closing up 0.4% amid broad USD weakness, as UST yields fell

• Yield spreads tightened, 10yr gilt -4bp 4.430% and 10yr UST -13bp 4.657%

• UK vacancies fall but the jobs market slowdown may be ending-REC

• Charts; 5, 10 & 21 DMAs conflict, as 21-day Bollinger bands contract

• Close above pivotal 1.2266 21-day moving average suggests downtrend is over

• 1.2067, 38.2% of the 2022-2023 rise remains resilient longer-term support

• The target for the topside break is a test of 1.2441 200-day moving average

• 1.2213 early London low and 1.2441 200 DMA are initial support, resistance

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