The cynics out there will undoubtedly point to the Citi Techs bullish EUR/GBP call as being the turning point, but I couldn’t possibly comment on that.
EUR/GBP is down 100 pips from its Friday peak and GBP/JPY and GBP/CHF have also made very significant gains. Hourly support in EUR/GBP is at .8310/15 and a break below there will likely see more longs throwing in the towel.
