Despite rumoured central bank buying interest overnight, the EURGBP has behaved itself and has drifted back a little closer to the 0.9000 level this morning despite a breif peek above 0.9080. I have included an hourly chart to indicate the recent price action and the emergence of minor support in the 89.90/00 region.
Do not worry about EURGBP too much during Asia as i do not expect us to break any new ground although i would esxpect stops to be building up below 0.8990 which may prove an attractive target once London comes in.
For those who missed it yesterday afternoon, i wrote a technical piece calling for the EURGBP to head to 0.8600 which you can read here.
