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EUR/GBP continues to rebound from 0.8500

The pound has lost ground since earlier this morning and that covers the GBP/USD, EUR/GBP and the GBP/JPY. So, it is pretty much across the board weakness for the British currency following the weaker than expected US CPI and RPI reports released much earlier today. So, the three of the EUR/GBP falling below 0.8500 in any kind of protracted way has been removed once more. The Euro is just now hitting session at around 0.8537 and the move higher comes from an inability so far of the GBP/USD to hold levels above its 200 day moving average, coupled with further modest upside just now in the EUR/USD this afternoon 

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