The pound is struggling to follow through on its gains

Naturally GBPUSD has followed the dollar selling pattern but it's struggling at its recent highs

While the euro stretches its legs further, GBPUSD is look hot and sweaty as it bumps up against the underside of 1.2900.

GBPUSD 15m chart

With the Spiegel ECB headlines adding to the euro's fortunes (strangely, no mention of their sources, though that may be in the original), EURGBP rising is helping to pile on the work cable has to do to get through 1.2900. Even if it does, it faces resistance at 1.2930 and 1.2945/50.

The way it's looking, EURUSD might hang on to its gains longer than cable, and it's the pound who is at risk from giving a lot of this move back.