• Steady in a tight 1.2849-1.2858 range with moderate flow on D3

• Month-end, and caution into the Aug 3 Bank of England rate decision on Aug 3

• BOEWATCH prices a 25pt hike to 5.25% at 76.4% from 73.3% at Friday's close

• Yield differential outlook in the next 6 months provides sterling support

• Charts, negative daily momentum studies, 21-day Bollinger bands contract

• 5, 10 & 21-day moving averages coil, signals suggest further consolidation

• Friday's 1.2766 low in Asia and 1.2726, 50% May/July rise initial support

• 1.2885/86 10 & 21-day moving averages then NY 1.2888 high first resistance

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