Sources report that the German bank who whacked EUR/GBP earlier today also bought a EUR/GBP put with a 0.8875 strike for Tuesday expiry. This means they are betting on the cross trading below .8875 before the expiry of the option.
Do you think they might have further sell interest to go?
EUR/GBP rallies should be pretty limited in nature against this backdrop. Could lend cable some needed underpinning.
