The heavy EUR/GBP selling this week appears to be making an impact on GBP/USD. The topside in GBP/USD this morning appears to be in play with stops the main driver. The first batch have been done above 1.5450 driving the pair to an intraday high of 1.5476 but traders in London say the big stops are just above 1.5500. Given the better outlook this morning, they just might come into play.
I have read a few research papers this morning with techguys calling for a move to 0.8400 in EUR/GBP. At yesterdays pace we should be there by early next week!
