• +0.1% at the top of a 1.2015-1.2045 range with heavy D3 volume, =USD -0.2%

• Asia cautious early, then risk recovered, E-mini S&P +0.2%, commodities up

• No significant UK data, so risk appetite and the USD likely lead sterling

• Charts; 5, 10 & 21 day moving averages, 21 day Bollinger bands slide

• Momentum studies edge lower - daily signals show strong negative signals

• Close above tested 1.2226 21 day moving average would end downside bias

• 1.2015 Asian low then this week's 1.2038 base are initial supports

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