- EUR/GBP spikes highest level since August 2013
- GBP amid intense selling pressure after UK Prime Minister Theresa May pledged to trigger Article 50 by the end of first quarter of 2017.
- Upbeat UK manufacturing PMI restricted further upside, pair is consolidating the strong up-move.
- Technicals are bullish and support further upside.
- Next likely target for bulls - 0.8794 and then 0.8815
- We see weakness only below 20-DMA at 0.8555.
Recommendation: Good to go long on dips around 0.87, SL: 0.8640, TP: 0.8795/ 0.8815
