• Steady after closing flat after recovering early losses as the USD retreated

• Hawkish comments from Bank of England policy committee member Catherine Mann

• UK funds sector says at risk of losing competitiveness post-Brexit

• Charts; an inside day leaves Monday's signals intact - a base is forming

• Positive cross of the 5 and 10-day moving averages undermines the downtrend

• 1.2067, 38.2% of the 2022-2023 rise remains resilient key support

• Close above the 1.2264 21-day moving average would end the downtrend

• A topside break would target the 1.2441 200-day moving average

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