EUR/GBP is boosting EUR/USD as the cross finds its typical month-end demand. The UK makes a large payment to the EU every month which needs to be be converted into EUR. With the market short EUR/GBP, the month-end demand is giving the cross a run to the topside. 0.8200/10 is solid resistance for EUR/GBP on rallies. We trade now at 0.8188.
EUR/USD ran up with EUR/GBP but traders note small selling from Mid-East accounts into strength. That suggests there bigger brothers are not far behind…
