• Steady in a tight 1.2043-1.2061 range in a low key FX majors session in Asia

• UK's NIESR cuts growth outlook for 2023, warns on falling living standards

• NIESR Jagjit Chadha said the forecasts paint "incredibly depressing picture"

• Charts; 5, 10 & 21 day moving averages head lower, 21 day Bolli bands expand

• Momentum studies slide - bearish setup - 1.2004 lower 21 day Bolli resilient

• 1.1984, 76.4% of the 2023 rise held on the close - 1.1842 2023 base below

• 1.2095 NY high then 1.2225 10 day moving average are initial resistance

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