• -0.15% in a busy 1.2203-1.2229 range with U.S. and Asian stocks lower

• UK motor insurance costs jumped 8% in fourth quarter of 2022- ABI

• Market and BoE optimistic that inflation is coming under control

• Even if inflation peaks, it will be a long hard road to growth

• Techs; 5, 10 & 21 day moving averages conflict, 21 day Bolli bands contract

• Momentum studies head lower - dip leaves negative daily studies

• 1.2144, 50% of the 2023 rise is initial significant support

• 1.2229 Asian high then 1.2287 21 DMA, 1.2294 5 DMA first resistance

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