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Forex pairs in this Article » EUR/GBP (London) - EUR/GBP climbed steeply and quickly through and into the 0.84 handle when on EUR demand.

EUR/GBP has printed a high of 0.8441 where offers there have capped the pair for the time being and see’s spot currently trading sub 0.8430. Meanwhile, markets are focused on the US government shutdown and debt ceiling while data wise, from the EZ, Retail Sales improved and beat expectations. UK data also continues to support a brighter outlook for the economy. Markit Services PMI (Sep) beat expectations coming in at 60.3 vs 60.0 but slightly down on previous at 60.5. This, coupled with yesterday’s. In the Construction PMI that posted a figure above 50 for a fifth month in September.

EUR/GBP Levels

The 20 DMA is 0.8404, the 50 DMA is 0.8516 and the 200 DMA is 0.8512. RSI (14) reads 79.74 suggesting the momentum of the move higher is slowing. Supports are ascending from 0.8225, 0.8286, 0.8300, 0.8326, 0.8371, 0.8388 and 0.8410. Spot is currently 0.8429 and resistance is 0.8449.
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