ANZ Research likes buying the dips in EUR/GBP.

"EUR/GBP fell below 0.85 last week, breaking below key longterm support. However, momentum indicators are becoming stretched, with the 14-day RSI near 20, in oversold territory. Also, one-month risk reversals have fallen but remain above zero, suggesting options markets are not yet signalling a structurally GBP-bullish outlook," ANZ notes.

"We see an opportunity to buy on dips. Initial support lies at 0.842, with stronger resistance near the 50-dma at 0.862," ANZ adds.