• Risk aversion trumps BoE as sterling reverses initial advance

• BoE's Bailey hopes end of rate hikes is near. Data will decide 0#BOEWATCH

• U.S. regional banking concerns, soft Chinese data sparks flight to safety

• Strong reversal from post-BoE low (0.8662) is a concern for EUR/GBP shorts

• Prior support at 0.8720 (Jan/Mar lows) and 0.8737 (200DMA) now resistance

• Shorts need 200DMA to hold to renew focus towards 0.8600

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