• Flat after closing -0.35%, capped by yen repatriation, GBP/JPY fell 0.85%

• UK employers slow hiring, pay growth cools, economy soft - survey shows

• There is no tier-one UK data or BOE events, so USD, EUR/GBP flows lead

• US stock market loses $4 trillion, USD eases as Trump plows ahead on tariffs

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

• Neutral daily momentum studies - uptrend stalled, bias remains higher

• The 1.2789 200 DMA and then last Tuesday's 1.2679 low are initial supports

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

• A sustained break of the 1.2679 21-day moving average ends the topside bias
Andy

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