Month-end EURGBP demand having its say again

The usual month-end EUGBP buying once again making an impact 29 July

We warn about this BUBA buying for UK membership fees to EU every month ( and again this morning) and the inevitable front-running anticipation began yesterday underpinning the pair.

General EUR demand this morning ands now EZ data helping a lift to 0.8440 and pushing GBPUSD lower through stubborn support at 1.3170 to trigger stops to the next point around 1.3150

A combination of good offers/res into 0.8450 and the market already being a tad long are enough to cap the move so far and now back to 0.8426/1.3168 as I type.

Expect decent demand into 0.8400 and offers around 1.3200 still.