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Forex pairs in this Article » EUR/GBP (London) - EUR/GBP has been a frustrating trade for the bears, with the pair continuing to hang around on the 0.83 handle attracting demand and a squeeze higher.

EUR/GBP is attempting the 0.8400 handle on a squeeze which might see stops activated exuberating a move towards higher levels in 0.84. Meanwhile, this week's minutes from the November MPC are expected to show that the decision to keep policy unchanged was unanimous. RBS Global Banking and Markets team said they see Sterling rising. “We believe that the recent out-performance of UK data and the apparent indifference of the BoE MPC to the associated tightening of monetary conditions will continue to play GBP positive. With Fed Chairman-elect Yellen deciding not to throw a policy curve-ball last week and…the discussion around the ECB inching towards Credit Easing, we see EUR/GBP falling short-term”.

EUR/GBP Levels

The 20 DMA is 0.8453, the 50 DMA is 0.8437 and the 200 DMA is 0.8527. RSI (14) reads 67.42. Supports are ascending from 0.8285, 0.8300, 0.8322 and 0.8340. Spot is currently 0.8395 while resistances are the 0.84 handle, 0.8416, 0.8464, 0.8477 and 0.8505.
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