EUR/GBP has fallen close to moderate support at 0.8930, now trading at 0.8936. Heavy selling from a US custody bank is getting the blame while talk of M&A-related demand for GBP/USD is helping exacerbate the GBP recovery. Support is scattered about every 20 pips below the prior level with more at 0.8910, 0.8895 and 0.8880, based on my reading of the short-term charts.
If nothing else, we may see a bit of stability within a half-pence or so.
