FxWirePro: EUR/GBP knocks-off early gains, upbeat UK PMIs caps upside

EUR/GBP chart - Trading View 

EUR/GBP slips lower from session highs at 0.8454 and was trading 0.17% higher on the day at 0.8438 at around 11:00 GMT.

The pair has paused downside with Doji formation on Thursday's candle, price is moving away from lower Bollinger band.

Upbeat UK PMIs acted as a tailwind for the sterling and capped gains for the cross, while the shared currency remains unaffected by the mixed flash Eurozone PMI prints for October.

The preliminary report from IHS/Markit research showed that the gauge measuring manufacturing sector activity in Germany and Eurozone came in slightly better than market expectations for October. 

However, the Services PMI dropped to six-month lows during the reported month.

On the other hand, both the UK Manufacturing and Services PMIs recorded better-than-expected growth during the current month. Markets ignore dismal UK Retail sales data. 

EUR/GBP is testing 200H MA, decisive break above will fuel further upside. Scope then for test of 21-EMA at 0.8484.