The $uros to poundsrency pair continue to edge higher, moving ever closer to re-test the strong resistance level immediately ahead in the 0.87 price region, followed by the deeper consolidation in the 0.90 – 0.94 price handle. Yesterday’s candle was typical of the last few weeks, with a relatively narrow spread, but with the low of the day finding support from the 9 day and 14 day moving averages, which adds some weight to the bullish sentiment that seems to be in place at present, particularly as we see the 40 day moving average crossing below once again. However, until we see a break and hold above the 0.90 price level then this upwards momentum may stall at any time. With no $undamental newsthe economic calendar in Europe today, the main items for the pound later in the week are the MPC minutes tomorrow followed by retail sales on Thursday, and GDP figures on Friday, all of which may help to provide a catalyst to the currency pair in due course.

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