After the big rally from .8350 to .9045, the market retraced 61.8% of this move before basing at .8615. This argues that an uptrend may be developing and the 2.5% rise already this week certainly confirms that possibility.
On the other hand, EUR/GBP is a very stable pair with no discernible trend on the weekly chart and is seldom prone to extremely sharp moves so buying in at these levels is certainly a risky business.
I’m overall bearish on this pair so I’m happy to sell intraday rallies and the first level I’m watching is .8880.