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Forex pairs in this Article » EUR/GBP (London) - EUR/GBP has preferred the upside of the sideways channel moving into the week. The pair has managed a advance towards the 0.84handle with a high of 0.8392.

A research team at TD Securities noted a very quiet European session has seen very little in the way of data releases. “Markets have kept one eye on members of the BoE including the Governor testifying to the Treasury Select Committee but the biggest market moving headline came from ECB Executive Board member Coeure who stated that although negative rates were technically possible and had been discussed, they were unlikely to be appropriate unless inflationary prospects worsened further—an outcome he said that the ECB saw as unlikely and little different from what other members have said recently”.

EUR/GBP Levels

The 20 DMA is 0.8408, the 50 DMA is 0.8431 and the 200 DMA is 0.8520. RSI (14) reads 67.34. Supports are ascending from 0.8285, 0.8300, 0.8317, 0.8341, 0.8369 0.8395, 0.8415, 0.8464 and 0.8477.
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