• Off 0.4%, with the U.S. dollar up 0.5% from 5pm NY on Trump tariffs threats
• UK PM Starmer to announce growth-boosting pension reform plans this week
• UK shop prices fall less quickly as retailers eye cost pressures - BRC
• Rising food prices slowed price declines - budget increased retail costs
• Charts - daily momentum studies rise, 21-day Bollinger bands contract
• 5, 10 & 21-DMAs conflict, weeklies remain bearish - positive short-term bias
• Monday's 1.2426 low, then 1.2360 21-day moving average are initial supports
• Targets a test of the 1.2575 Jan 7 high, and then the 1.2616 2025 top
• Close below the 1.2360 21-DMA and the 1.2343 5-DMA to end the topside bias
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)