• Trades off 0.05% after closing up 0.45% with the U.S. dollar little changed

• EUR/GBP fell 0.55% - 10yr bund -4bp 2.580%, 10yr gilt +18bp 4.786%

• UK housing market capped by the end of tax breaks and economic uncertainty

• UK's Reeves intends to keep fiscal rules for the whole parliamentary term

• Charts - 5, 10, & 21-day moving averages fall, 21-day Bolli bands slip

• Daily momentum studies ease - signals bearish after Friday/Monday slide

• This week's 1.2712 low, then 1.2653 0.5% of the 2025 rise are first support

• Monday's 1.2932 top and Friday's 1.3113 high are initial resistance
Andy

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