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Forex pairs in this Article » EUR/GBP (Barcelona) - The EURGBP reached its top at 0.8130 only to take a fall on the release of the UK jobless claims and the BoE October meeting minutes at 08:30 GMT. The British Pound strengthened enough to take the cross down to 0.8108. The MPC decision to keep interest rates and the asset purchases programme unchanged was a 9-0 unanimous vote and the ILO unemployment rate surprised by dropping from 8.1% to 7.9%. Also positive was the 4K drop of claimants in September, instead of an unchanged figure as expected. August data was revised up, from -15K to -14.2K.

From 0.8108 low, the EURGBP is doing a slight rebound on account of EMU data, with the annualized construction output (w.d.a.) improving from -6.2% to -5.5% in August, as the monthly growth was of +0.7%. At the moment of writing, the cross trades around 0.8115.

"EURGBP remains bid and has gapped above tough overhead resistance between 0.8100/14, these represent the recent high, the 200 day ma and the 4 month downtrend", wrote Commerzbank analyst Karen Jones. "We have a gap back to 0.8102 which is likely to be filled ahead of further gains", she added.
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