I am of the opinion that most of the EUR/GBP buying that has materialised over the last few weeks is speculative in nature. Sure the fundamentals may seem heavily weighted in favour of the EUR but we should not forget that this pair traded around .70 for what seemed like an eternity before exploding higher during the GFC. We are now getting back towards the highs from late last year and I for one think that picking a top in this pair might turn out to be a very productive strategy in the medium term. Remember the big Fibo resistance was at .9270 which was briefly pierced as the market spiked to .9300 recently. If a daily top can form close to these levels then I’ll be going short with a fairly tight stop.