• -0.15% at the base of a 1.2770-1.2797 - USD up 0.15%, 10yr UST +4bp 4.256%

• Trump addresses Congress for first time since returning to power

• There is no tier-one UK data or BoE events, so risk appetite, USD lead

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

• Positive daily momentum studies - Tuesday's bounce leaves a bullish setup

• Yesterday's 1.2679 low and then the 1.2585 21-DMA are initial support

• 1.2786 200-day moving average was tested, 1.2810 Dec top next resistance

• A sustained break of the 1.2586 21-day moving average ends the topside bias
Andy

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