• EUR/GBP has traded a nine pip range since the European open; 0.8703-0.8712

• 0.8712 is also the high water-mark since Wednesday's April low of 0.8688

• Drop to 0.8688 was spurred by global stock gains on Iran ceasefire news

• Pound is risk-sensitive; euro is safer-haven. Iran truce jeopardised

• 0.8713-0.8739 was Tuesday's range (0.8740 is April high)

• Three BoE MPC members are due to speak next week; Greene, Bailey, Taylor

EURGBP


(Robert Howard is a Reuters market analyst. The views expressed are his own)