• EUR/GBP pulls back after hold of 200-week MA (0.8541)

• The dip likely presents an opportunity for bulls to re-engage at 0.85

• Initial focus on rising geo-tensions, could underpin EUR/GBP

• Note that euro is a safer asset than sterling

• Given weekend gap risk, EUR/GBP may edge higher into Friday's close

• Technically, a close above the 200WMA would be encouraging for bulls

• COMMENT-Greater risk that the BoE shifts away from quarterly cuts
EURGBP weekly chart

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