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Forex pairs in this Article » EUR/GBP (Barcelona) - The pair is extending its intraday upside on Monday, trading in the upper end of the range and closer to 0.8550
While the single currency found some comfort around the 1.3375/85 region, the sterling is sharply depreciating across the board, breaching the key support at 1.5700 against the greenback.

"The longer term theme is still EUR constructive however and buying dips back to the important levels at 0.8554 (here) or slightly lower at 0.8420 which was the important resistance level back in Dec '11 to Mar '12 still looks the best strategy for now", recommends W.Moore, Strategist at RBS.

At the moment, the pair is up 0.85% at 0.8533 with the next hurdle at 0.8575 (MA10d) ahead of 0.8664 (high Feb.7) and then 0.8681 (high Feb.6).
On the downside, a break below 0.8442 (hourly low Feb.11) would bring 0.8364 (low Jan.22) and finally 0.8355 (low Jan.18).
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