The retracement off Monday's high extended towards 0.8250 overnight. The move leaves the daily studies either cresting or heading south, though the recent trend has been higher. No strong bias at current levels, but will buy a 0.8250 failure or sell a break.
Tides shifted against GBP today, though again seeing some independent GBP strength around the 16:00bst fixing. Wed's fix related move marked GBP's near term top, which highlights the supply on Cable that will be uncovered above 1.55. The cross is not in a rush off an 0.82 handle with talk of barriers at 0.8200 and while EUR/USD's upside stalls.