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Forex pairs in this Article » EUR/GBP (Chicago) - EUR/GBP has lost 0.50% so far as the pound has strengthened against most majors post FOMC minutes. The pair touched bottom but has advanced 0.04% on potential reversal price movement.

Later in Europe, the Markit Economics will publish its manufacturing PMI for the euro-zone. In the old continent, markets closed with losses with the FTSE100 down 0.97%, the DAX down 0.18% and the CAC40 down 0.34% ahead of FOMC minutes that were released a couple of hours ago. Without providing specific conclusions on the when and how much for the Fed’s tapering, market participants around the world reacted sending the pound higher across most majors.

Technically speaking, the pair trades at 0.8524 between supports at 0.8520 (June 6th highs), 0.8500 (August 14th lows), 0.8481 (July 2nd lows) and resistances at 0.8536 (August 19th highs), 0.8556 (July 4th lows) and 0.8580 (August 12th lows). The trend index reports the pair as strongly bearish on one-hour timeframe analysis.
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