The pound took another leg higheron Tuesday. Economists at ING expect the pair to extend its race higher towards 1.1750 on a break past 1.15.

EUR/GBP to move within a 0.8650-08750 near-term trading range

“1.1500 is clearly a big level in GBP/USD. A break could see the correction extend to 1.1750. But such a correction would more likely be driven by a global re-assessment of risk ($ negative) than a further re-rating of UK prospects.” 

“0.8650-08750 looks to be the EUR/GBP near-term trading range.”