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3 Aug 2015
EUR/GBP testing lows near 0.7020
FXStreet (Mumbai) - EUR/GBP fell further in to losses in the European session, as the shared currency took a hit from the mixed set of Euro area PMI readings while the pound remains muted ahead of the crucial UK manufacturing PMI data.
EUR/GBP awaits UK data
Currently, the EUR/GBP pair -0.16% lower at 0.7019, miring close to fresh session lows of 0.7012 posted last hours. The cross in EUR/GBP remains in the red mainly driven by broad euro weakness after the series of manufacturing PMI reading across the Euro zone failed to lifted the sentiment around the European currency.
On the other hand, the pound erased gains and trades flat versus the greenback just before the significant UK data. The manufacturing PMI for July from the UK is expected to post a minor increase from 51.4 to 51.6.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7031 (Today’s High) levels and above which it could extend gains 0.7100 levels. To the downside immediate support might be located at 0.7001 (July 31 Low) below that at 0.6987 (July 23 Low).
EUR/GBP awaits UK data
Currently, the EUR/GBP pair -0.16% lower at 0.7019, miring close to fresh session lows of 0.7012 posted last hours. The cross in EUR/GBP remains in the red mainly driven by broad euro weakness after the series of manufacturing PMI reading across the Euro zone failed to lifted the sentiment around the European currency.
On the other hand, the pound erased gains and trades flat versus the greenback just before the significant UK data. The manufacturing PMI for July from the UK is expected to post a minor increase from 51.4 to 51.6.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7031 (Today’s High) levels and above which it could extend gains 0.7100 levels. To the downside immediate support might be located at 0.7001 (July 31 Low) below that at 0.6987 (July 23 Low).