• Down 0.15% in a 1.2960-1.2982 range with moderate D3 flow - USD up 0.15%

• No UK data - Fed Chair Powell leads event risk talking in Washington

• Hopes of a stable UK government is attracting investment from offshore

• Friday's IMM data showed sterling long positions are the highest since 2007

• Charts, positive daily momentum studies, 21-day Bollinger bands expand

• 5, 10 & 21-day moving averages rise - a positive setup at the 2024 highs

• Resistance at Friday's 1.2990 top then blue sky to the 1.3144 2023 high

• Friday's 1.2903 low and then last week's 1.2778 base are initial support

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