• +0.05% after closing steady - resilient with the USD up 0.2%, EUR/GBP -0.4%

• The BoE rate decision leads event risk - no change at 4.5% is expected

• Expect a cautious stance amid tariff uncertainty and rising defence spending

• Charts - 5, 10 & 21-day MAs climb, as 21-day Bollinger bands head north

• Positive daily momentum studies - the Feb/March uptrend remains in play

• Friday's 1.2911 base and then the 1.2844 21-day moving average support

• The 1.3046 range top in November 2024 is the next significant resistance

• A sustained break of the 1.2844 21-day moving average ends the topside bias
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)