• Off 0.05% at the base of a tight and quiet 1.3025/1.3035 range on D3

• There is no tier-one UK data today, so risk appetite and the USD lead GBP

• UK pay awards fell to 4.5% in the three months to July, from 5% in June

• Easing UK pay pressures will be well received by the Bank of England

• TECHS - positive daily 5, 10 & 21 moving averages, as 21-day Bolli's expand

• Daily momentum studies head higher - positive daily and weekly signals

• 1.3044 July and 2024 top tested but held on the close - still key resistance

• A close above 1.3044 would open the door to a test of 1.3144 July 2023 top

• A sustained break of 1.2969 10-DMA would undermine the topside bias

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