2 Jul 2015
EUR/GBP keeps range around 0.7090 on stronger UK PMI
FXStreet (Mumbai) - EUR/GBP remained lifted in the European morning, with the pound showing little reaction to the better than expected UK construction sector output numbers as markets remain cautious ahead of the crucial US macro data.
EUR/GBP trades below 0.7100
Currently, the EUR/GBP pair trades 0.22% higher at 0.7093, failing to hold gains above 0.711 levels. The cross in EUR/GBP trades in the positive territory, with the GBP traders shrugging off the latest UK construction PMI for June which improved from 55.9 to 58.1.
On the EUR- side, the euro remains well bid versus the US dollar ahead of ECB meeting minutes while Greece worries fade away from investors’ minds.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7147 (June 30 High) levels and above which it could extend gains 0.7169 (June 29 High) levels. To the downside immediate support might be located at 0.7078 (June 23 Low) below that at 0.7053 (May 27 Low) levels.
Watch the NonFarm Payrolls Live Coverage with Valeria Bednarik and Dale Pinkert
EUR/GBP trades below 0.7100
Currently, the EUR/GBP pair trades 0.22% higher at 0.7093, failing to hold gains above 0.711 levels. The cross in EUR/GBP trades in the positive territory, with the GBP traders shrugging off the latest UK construction PMI for June which improved from 55.9 to 58.1.
On the EUR- side, the euro remains well bid versus the US dollar ahead of ECB meeting minutes while Greece worries fade away from investors’ minds.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7147 (June 30 High) levels and above which it could extend gains 0.7169 (June 29 High) levels. To the downside immediate support might be located at 0.7078 (June 23 Low) below that at 0.7053 (May 27 Low) levels.
Watch the NonFarm Payrolls Live Coverage with Valeria Bednarik and Dale Pinkert