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Forex pairs in this Article » EUR/GBP (Barcelona) - Having ranging above support at 0.8700 overnight, EUR/GBP climbed into the European morning to post a high at 0.8726 before climbing gently following German Unemployment numbers.

This morning has seen a decline in German Retails Sales but a mild improvement in the German employment situation, with Unemployment Rate holding at 6.9% but the Change declining -7k against expectations of -4k. In terms of immediate price action, spot initially climbed to confirm the morning high before gently dipping and pushing higher to where it currently trades at 0.8723.

EUR/GBP Technicals bullish

The Trend Index is showing the pair to be slightly bullish. Classic daily pivot points can be seen with support below at pivot at 0.8684, S1 at 0.8660 and S2 at 0.8616. Ahead resistance can be found at 0.8728 which price is currently testing, R2 at 0.8752 and R3 at 0.8796. Hourly Stochastics are in overbought territory at 83.56, and RSI at 81 and both moving with an upside bias for now.
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