• +0.05% in a low-key 1.2873-1.2892 range on FX Matching with the USD -0.1%

• Cold weather caused UK retail sales to slow after January bounce - BRC

• Proposed US tariffs are undermining stocks - Nas-emini -1%, and cap the USD

• There is no tier-one UK data or BOE events, so USD, EUR/GBP flows lead

• Charts - 5, 10 & 21-day MAs climb, as 21-day Bollinger bands head north

• Neutral daily momentum studies - uptrend stalled, bias remains higher

• 1.2789 200 DMA and then last Tuesday's 1.2679 low are initial supports

• The 1.3046 range top in November 2024 is the next significant resistance

• A sustained break of the 1.2679 21-day moving average ends the topside bias
Andy

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