• EUR/GBP remains rangebound, holding 0.86-0.87 with little to shift the narrative

• Eyes are on the Makerfield by-election and the political spillover

• Bookmakers pricing an 82% probability of a Burnham (Labour) victory

• Burnham has signalled an intent to challenge Starmer

• Political backdrop likely to underpin the cross above 0.8600-20 support zone

• Near-term resistance stands at 0.8678-80 (100DMA cluster)

• Bias still leans towards EUR/GBP topside on rising UK political risk premium
EURGBP daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))