Pound underpinned as EURGBP continues its retreat

A good session so far for the pound 20 OctEURGBP now chewed through bids/support between 0.8975-80 after another failure into the 0.9030 line in the sand on the topside.
Decent size option expiries at 0.8940 and 0.8950 a possible mover/target with EURUSD pinned around option interest of its own at 1.1800. GBPJPY and GBPCHF demand also in play as yen and franc weakness prevails.
Net result ? GBPUSD rallies to test highs of 1.3166 after the early look below 1.3100
Good two-way business still providing opportunities. Just don’t get greedy.
Mirror, mirror on the wall who’s the most correlated of them all. Again.                                                             EURGBP 15m                                                         GBPUSD 15m Article Source

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