Those who have followed me over the years have seen me say you can’t trade EURUSD or GBPUSD without keeping an eye on EURGBP. The move up in this cross is behind some of the demand for EURUSD while GBPUSD struggles on the upside.
As the chart shows, EURGBP has bounced off a test of .8500 *just below( and is currently trying to establish above,8575, which would expose .8592-.8620 as the last leg down is negated.
On the downside, it needs to hold .8532 to keep the bid but .8570+ for the string bid.