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Forex pairs in this Article » EUR/GBP (Barcelona) - Having ranged with an upside bias overnight, EURGBP has climbed into the early European session, posting a weekly high at 0.8087.

The pair found support at the 20 MA during what was a quiet session, just above the daily pivot point at 0.8070 before climbing to post the weekly high. This morning has seen German GDP register in line QoQ at 0.2% while French Business Climate numbers came in at 88 ahead of expectations of 86. Ahead we see German IFO data out at 09:00 GMT and UK Mortgage Approvals at 09:30 GMT. Spot looks to have found a bit of resistance at the high and has now started to gently retrace to where it currently sits at 0.8082.

The Danske Research team, long at 0.8040, recommend holding the long position with a 0.8165 objective and a stop at 0.8035. The analysts at Forex Ticket are neutral on the pair and see spot trading between 0.8070/0.8040 and 0.8085/0.8100. Elsewhere, European stocks have opened slightly lower with The DAX down 0.15% in early trading. Commodities look mixed while critical European yields are up but stable.
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