• EUR/GBP extends on post-UK jobs bid. 0.85 test looms

• As mentioned, yield spreads continue to point towards EUR/GBP upside

• Greater risk that the BoE shifts away from quarterly cuts

• Should limit pullbacks in the cross

• Support: 0.8526/28 (200-hour MA & pre-UK jobs level), 0.8380/0.8400

• Resistance: 0.8500, 0.8541 (200-week MA)

• GBP event risk: April GDP due Thurs but bigger focus on CPI (Jun 18)
EURGBP range hourly

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