• EUR/GBP holding firm above the 0.8600-15 support zone

• Iran deal optimism a net EUR positive, strips out some oil-driven headwind

• UK local election is the key GBP event - Labour wipeout is consensus, so limits shock value

• Eyes on Starmer exit odds as any material build in those and GBP sellers likely emerge

• If political noise escalates, 0.87 comes into play quickly, with 0.88 also on the radar

• For now, the cross is still in a range trade with extremes being faded
eurgbp daily chart


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