• -0.05% at the base of a tight but fairly busy 1.2335-1.2346 D3 range in Asia

• UK consumer spending grows at slowest pace in over a year: Barclays

• Data suggests BoE's 14 consecutive hikes are really beginning to bite

• Confirms the market's belief that the Bank of England has finished hiking

• Charts; momentum studies, 5, 10 & 21-day moving averages head higher

• 21-day Bollinger bands expand - positive setup suggests further gains

• Targets 1.2435 200 DMA and 1.2460 38.2% of the 2023 fall in July/October

• Close below under pressure 1.2337 Oct high will undermine the bullish setup

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