• Flat after closing -0.6% with an inside day, amid broad USD strength

• UK retailers report record food inflation but should begin to ease

• Markets expect BoE 25pt hike to 4.5% on May 11 - BOEWATCH 92.21% probability

• Charts; momentum studies rise, 5, 10 & 21-day moving averages climb

• 21-day Bollinger bands head higher - a positive trending setup

• Targets a test of 1.2583 April and 2023 high, then 1.2665 May 2022 top

• Another close below 1.2453 21-day moving average would end the topside bias

• NY 1.2481-1.2560 range is the initial support and resistance

For more click on FXBUZ