This one has been shouting ‘buy me’ for the last few weeks as we’ve seen evidence of some serious heavy hitters buying on dips. Whether this pair is undervalued or overvalued in the mid .80’s I’m afraid I’ve got no idea, but the short term momentum looks to have turned and a clean break above .8725 will have many technicians looking for a move back into the .90’s. I suspect that this is going to happen and, while it may well be a screaming sell when we get there, the opportunity to make 300 GBP pips shouldn’t be sneezed at.