Steady after closing up 0.2% against a broadly weaker USD, with risk firmer

Sterling often volatile on month end rebalancing - models suggest USD demand

UK business confidence ticked higher in May - Lloyds Bank nL8N2XM438

Construction and manufacturing sectors improved, but the retail sector fell

Charts; mixed momentum studies, 5, 10 & 21 day moving averages head higher

21 day Bollinger bands expand - technicals provide a positive setup

1.2727 50% of 2022 fall and 1.2746 upper 21 day Bolli band first resistance

London afternoon1.2625 low then early London 1.2617 base initial supports

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