- GBP under intense selling pressure following UK Prime Minister Theresa May's comments over the weekend.
- Upbeat construction PMI data released earlier largely ignored by GBP bears.
- EUR/GBP hits fresh multi-year highs at 0.8765, bias higher.
- Technicals are bullish and support further upside, on track to hit 0.8815
- We see weakness only below 20-DMA at 0.8555.
- Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-spikes-to-fresh-highs-since-Aug-2013-bias-higher-329162) is progressing.
Recommendation: Hold for targets.
