• Off 0.05% near the top of a 1.2611-1.2639 range - hectic early on D3

• UK car output climbed 14.6% in February thanks to strong domestic demand

• Good news for both UK industry and the resilience of UK consumers

• The Easter holiday with the key US Core PCE on Friday suggests consolidation

• Charts; 5, 10 & 21-day moving averages ease with daily momentum studies

• 21-day Bollinger bands expand - daily charts retain a negative bias

• 1.2569, 38.2% of the October/March rise is initial significant support

• A close below 1.2569 would open the door to a test of the 1.2517 2024 low

• Close above last Friday's 1.2677 high would suggest a base is in place

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