In line with this week's bullish call, and on the back of UK news, early downside was sharply reversed yesterday. Buying interest was seen below the 13 day line with demand accelerating in the latter part of the day to take EURGBP to the most positive levels traded for 4 months. Those extremes were also not maintained and net gains were only minor into the close. So caution needs to be applied to today’s analysis but with the underlying bias still recognised as bullish we look for gains to grow..
Buy in .8870/73 area and any .8856 dip.
Stop is .8824 offered.
Targets; .8889, .8903 or even .8924.
Closing 4pm London time.