May 16 (Reuters) -

• Tepid price action in EUR/GBP as focus turns to UK-EU summit

• Range parameters unchanged. Support: 0.8387-0.8400. Resistance: 0.8450-73

• For now, cross struggles to breach 0.8400

• Harder EU-UK lines will favour EUR/GBP dip buyers

• Meanwhile, next week's UK CPI will be notable for current BoE pricing

• Rate cut pricing looks to be as hawkish as it can get

• Lowers bar for a dovish repricing 0#GBPIRPR
eugbp daily chart

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