GBP/EUR has tried to break out to fresh highs 4 times in the last 10 days.
At this stage it's looking unlikely the rate will run away to the upside.
And with the UK budget next week, there's plenty of downside risk.
However, that's not to say that a further re-test won't see the Pound gallop away as automatic sell orders get used up.
It's a real seesaw for now.
GBP/USD could be a different kettle of fish today as it's mainly US centric data out through the day.
The main headline is the US durable goods orders out just after lunch.
Business news is a lot more lively today. Headlines are the UK water industry and the confirmed relaxing or borrowing rules for the Government.
The UK water industry is quoted as being "in crisis" whilst the Chancellor is looking to free up £50 billion of additional spending as long as "guard rails" are adhered to.
US: 13:30 Durable Goods Orders
UK: Saturday 16:20 BoEs Andrew Bailey Speech
As ever we look forward to keeping you in the loop and look out for our next update.
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