• Steady after closing up 0.35%, with the USD off 0.2%, as UST yields fell

• After strong UK data, fin min Reeves warns economic headwinds are coming

• There is no UK data today of BoE events - the USD will likely lead sterling

• Charts - an inside day - neutral 5, 10, & 21-day moving averages

• Momentum studies conflict - 21-day Bollinger bands gently contract

• The daily charts remain neutral at levels seen since mid-April

• Trading the 1.3443/1.3163 range with tight stops makes sense

• Wednesday's 1.3361 high, then last week's 1.3402 top are first resistance

• Bears need a close below the resilient 1.3165, 0.3825 of the April rise
Andy

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