• Off 0.2% at the base of a 1.2484-1.2518 range with consistent flow on D3

• The U.S. dollar showed broad-based strength with firmer UST yields

• There is no UK data today, so risk appetite and the USD will lead sterling

• GBP likely quiet ahead of the BoE rate decision and outlook on Thursday

• Gilt yield fell on Tuesday suggesting markets are looking for a dovish shift

• Charts; 5, 10 & 21-DMAs plus daily momentum studies conflict - no real bias

• Resistance starts at Tuesday's 1.2568 top then at Friday's 1.2634 high

• The 1.2484 21-DMA and last week's 1.2467 base are the initial supports

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