EURGBP gives up on 0.8700 as GBP demand prevails

Pound buyers still in charge for the moment 10 April

EURGBP clung onto 0.8700 yesterday and rallied to 0.8724 but this morning we've had another pop below to post 0.8692 and that's helped GBPUSD up to test 1.4180. Comments from BOE's McCafferty not doing any harm to the pound's current bullish tones along with better risk sentiment and GBPJPY demand.

Decent offers into 1.4200 and EURGBP has bids/support into 0.8680 so we're facing stalemate for the moment at 0.8693 and 1.4171

I said earlier I was keeping my GBP powder dry for the moment but could be temped now to re-sell some cable shorts if we can hold around here. Pound still seems underpinned for the moment though so no immediate rush.

EURGBP