• Trades off 0.05% early after closing -0.15% - resilient with the USD +0.35%

• Cautious BoE with dovish Fed and ECB provide underlying sterling support

• There is no tier-one UK data today, so the USD and month-end flows lead GBP

• TECHS - 5, 10 & 21 daily and weekly moving averages head higher

• 21-day Bollinger bands rise as momentum studies conflict - bullish setup

• The uptrend targets a test of 1.3410, 0.786% of the 2021-2022 fall

• This week's 1.3269 high is first resistance, then 1.3336 upper 21-day Bolli

• Close below the 1.3139 10-day moving average would be a concern for bulls

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