• Up 0.1% in a 1.2448-1.2464 range with plenty of interest on D3

• UK pay settlements edged lower in the first quarter but rose in April

• Wage settlements in April average 5% - will make the BoE cautious on cuts

• CBI Industrial order expectations lead the UK data schedule - RTRS poll -16

• Charts; 10 & 21-day moving averages fall, 21-day Bollinger bands track lower

• Daily momentum studies base or rise - charts retain a net bearish bias

• A close above 1.2526 38.2% Mar/Apr fall and 1.2533 21 DMA would be bullish

• This week's 1.2299 low and Friday's 1.2467 top are first support/resistance

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