• Though the bias remains skewed to the topside for EUR/GBP

• Stalling ahead of 0.86 and overbought RSI opens door to a pullback

• Suggests that risk-reward chasing upside is unfavourable from current levels

• That said, dips are likely to meet good demand

• Support resides at 0.8544 (200WMA), 0.8450-73 and 0.8375 (200DMA)

• Resistance sits at 0.8625-44 (Aug and Apr 2024 swing highs)

• Should we see another bout of risk aversion, EUR/GBP can drift higher

• Meanwhile, sterling's close under 200DMA leaves the currency vulnerable
eurgbp daily chart

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