• Off 0.05% at the top of a 1.2347-1.2362 range with moderate FX Matching flow

• Asia cautious on sterling after Wednesday's slide as the UK budget lingers

• UK shop prices dropped in December but prices likely to rise in 2025 - BRC

• Britain's finance firms see biggest plunge in sentiment in two years - CBI

• BoE Deputy Governor Breeden speaks tonight - her comments key for confidence

• Charts - daily momentum studies ease, 21-day Bollinger bands head lower

• 5, 10 & 21-DMAs slide - weeklies remain bearish - a strong negative setup

• 1.2299 April and 2024 base, then 1.2038 October 23 low are initial supports

• Wednesday's 1.2493 top then this week's 1.2575 high are the first resistance
Andy

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