We have seen Lloyds TSB, Citi and another investment bank (forget which one) recently put out bearish recommendations when this pair was a little higher on the 8500 handle.
Overnight we bounce off a low 0.8390 approx, and much of the movement in Eur/Usd and cable has been related to selling and profit taking in EUR/GBP.
If you can withstand a little buffeting here and there ( no, not standing at the all-you-can-eat counter), then I am still of the opinion that we will see an ultimate test down to the 0.8200 level and maybe beyond.
On the downside we have to through 0.8340 and resistance up around 0.8470 / 0.8502 and 0.8535-40;
