No back off in EUR/GBP which is at session highs at 0.8435 from levels below 8300 little more than a day ago.
Cable is pulling back as a result, slipping to 1.5840 from highs of 1.5882 as London squared up for the day.
As goes EUR/USD, so goes EUR/GBP, a wise man once said. Perhaps time to book those long cable profits so many of you have…
Look for 0.8470 to cap EUR/GBP rallies near-term. The 21 and 200-day moving averages converge around that level.
