EUR/GBP has found decent support so far today at the 0.8431 level and has bounced back towards the day’s highs as EUR/USD recovers on profit taking in the NY afternoon. The overall feeling for EUR/GBP is that while the pair remains capped in the 0.8480-98 region a retest of the 0.8395-00 region is favoured with potential for a break lower. Selling bounces back to the 0.8480-00 region with a stop above 0.8500 is probably not a bad idea next week.
