A range trade that we have been following for a few weeks, EUR/GBP, continues to throw up opportunities with both resistance and support holding firm. The 0.8560/0.8721 spread has been touched several times over the last two months with each test producing a turnaround in price action. The current spot price is now closing back in on support, with the move being given extra credibility by the short- and medium-dated simple moving averages and a series of lower highs from late April.