Off 0.05% after closing down 1.08%, as the USD jumped on the less dovish Fed

UK inflation was as expected - UK factories report plunge in output

BoE to remain on hold today at 4.75% - GBPIRPR prices no change at 92.15%

The Monetary Policy Summary will be key for the market response to the BoE

Charts - negative daily momentum studies, 21-day Bollinger bands expand

5, 10 & 21-DMAs fall - a negative daily bias, plus weeklies remain bearish

Targets a test of the 1.2475 November trend base, then the 1.2446 May low

Yesterday's 1.2730 high, then the 1.2810 December top are initial resistance

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