EUR/GBP falls below 0.8333 as Pound extends gains

The Pound has made further progress versus the Euro and it has now taken out that level noted here many times, at 0.8333. That is no surprise here. The low seen this morning has been set at 0.8317, after setting a US close last night at 0.8324. There are some minor supports to note below the 0.8300 handle, but the next level of real note from here on is the March 2022 low, at 0.8203. Of course that is still some way off, but do not forget what is driving this move lower. The BOE passed on a rate cut earlier this month, the UK data is significantly better than what we are seeing in France and Germany right now. The data seen yesterday endorses that and the ECB must surely now move to cut rates again  next month. The EUR/GBP is currently trading at 0.8320