• Steady after closing down just 0.1% with the U.S. dollar unchanged

• BoE Governor Bailey is optimistic that inflation will be 2% by late 2025

• He said "It's really too early to be talking about cutting rates"

• Upcoming data will drive inflation and interest rate expectations

• Charts; momentum studies conflict, 5, & 10-day moving averages climb

• 21-day Bollinger bands contract - neutral setup suggests consolidation

• This week's 1.2428 high and 1.2434 200-day moving average a viable range top

• The 1.2242 London low then 1.2238 10-DMA are initial supports

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