• +0.05% after closing up 0.15%, sterling is resilient with the USD up 0.15%

• A positive response to UK pragmatism over tit-for-tat tariffs with the U.S.

• There is no first-tier UK data or BOE events - U.S. Core PPI leads data risk

• Charts - 5, 10 & 21-day MAs climb, as 21-day Bollinger bands head north

• Daily momentum studies edge higher - the Feb/March uptrend remains in play

• This week's 1.2862 base and then the 1.2791 200 DMA are initial supports

• The 1.3046 range top in November 2024 is the next significant resistance

• A sustained break of the 1.2731 21-day moving average ends the topside bias
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)