Better-than-expected UK retail sales data for September, released on Friday, pushed GBP/EUR to a 30-month high. The pair reached 1.2054 after the report showed a 0.3% rise in sales, defying predictions of a -0.4% contraction. This marked the third consecutive month of growth, indicating continued consumer spending despite uncertainty surrounding the upcoming Budget, which Chancellor of the Exchequer Rachel Reeves will deliver at the end of the month.

Today, there is little news from the UK, with a speech by Bank of England Governor Andrew Bailey scheduled for tomorrow as the first notable event of the week. Currently, GBP/USD is trading around 1.3020, with GBP/EUR at 1.2005.