EUR/GBP is currently trading at .8418 from earlier session highs at .8438. I of course am looking at this pair with a distinct bias, as I’m long cable and bullish GBP, so please factor that into my views. I think we should treat EUR/GBP differently to EUR/CHF and EUR/AUD. The latter two are at historical lows and the hence we are seeing the potential reversals whereas EUR/GBP is trading mid-range. Of course some short term bears will have been stopped out last night if they had tight trailing stops above .8350 but I do not think that the overall downtrend is affected by the overnight moves.