Keep an eye on EURGBP as the ECB fix approaches

We know about the month-end demand for EURGBP and it may not be over yet

I've been banging on about the EURGBP month-end demand which the BUBA now spreads over a couple of days, the evidence of which we saw yesterday in the rally into 0.8670.

I also regularly highlight the correlation between EURGBP and GBPUSD and we're once again seeing that in play with the latter dipping into 1.2950 as EURGBP rallies again.

The ECB fix is at 12.15 GMT so keep an eye out. This latest EURGBP demand could be fore-running expected demand and that means we could see it running out of steam as longs sell into the fix or rally after.

Currently 0.8618 already running into sellers above 0.8620 again with cable finding demand below 1.2950

My work is done here for the week. I hope it's helped make/save you a few pips along the way in what's been a fractious few days.

Still plenty more action to be seen before the day, month and quarter finally hang up their hats.

So as always, remember,