It’s been an impressive run back up through 1.5700 having tested the strong support at 1.5585 again, and a combo of weaker Eurozone based mftg PMI coupled with stronger UK mftg PMI has seen EURGBP down to 0.7937 from 0.7975 earlier.
The selling on that pair has added to the upward impetus on cable to post 1.5711 highs so far but we’ve got more offers into 1.5720 ahead of Friday morning’s 1.5726 high, where I’ll look at going short, but I’m in no rush.
EURGBP will find bids into 0.7900-10 again, if indeed we get that low, and that will help to cap further GBPUSD rallies if USD sentiment doesn’t take a major turn south.