GBP likely to stay strong at least until .8050 is tested in EUR/GBP

The GBP showed its resilience again yesterday. Certainly the data was strong again but the market is quite long.

• EUR/GBP made fresh multi-year lows and the market is now focusing on reported barriers at .8050;
• Cable tested 1.6920 last night but may struggle to take this level out without a struggle, with plenty of offers reported near there.