FXstreet.com (Barcelona) - The selling pressure against the Pound has been pushing the EUR/GBP in a rally along today's session. Now, the pair is testing the 0.9000 resistance after rises more than 270 pips from the 0.8830, in the beginning of the European session, to the 0.9010 in the American session.

Currently, The EUR/GBP is trading around the 0.8990/0.9010 band, if the uptrend breaks the 0.9000 psychology resistance, the pair will go up to the 0.9030 (Feb 13 high) and 0.9075/85 congested range as an important resistance as Feb 2,3,4 and 12 highs and January 30 maximum.

According to the FastBrokers Research Team, the Pound is under selling pressure as reaction for the bad HSBC earnings report: The relative weakness of the Pound is reflected in the EUR/GBP as the Euro looks to break out against the Pound again.