Like EUR/USD, EUR/GBP rallied once Bill Gross’s musings of a Portuguese debt restructuring failed to spark a rout in the euro. EUR/GBP is up at 0.8350 from 0.8330s while Cable languishes near session lows, around 1.5965.
0.8360 is pretty tough resistance on the short-term charts, so the rally may have trouble getting further legs.