Back
3 Aug 2015
EUR/GBP in a narrow range around 0.7020
FXStreet (Edinburgh) - The flat performance of both the euro and the sterling are echoing in quite a flat price action in EUR/GBP at the beginning of the week, around 0.7020 so far.
EUR/GBP attention to PMIs
After climbing as high as the vicinity of the key barrier at 0.7100 on Friday, the cross has sparked a correction lower to the current area of the low-0.700s, along with a pick-up in the demand for the US dollar.
Ahead in the session, the final manufacturing PMIs for the last month in Euroland and the UK are due, ahead of the more relevant Services PMI in the British economy due on Wednesday.
EUR/GBP key levels
At the moment the cross is losing 0.08% at 0.7023 facing the next support at 0.7003 (low Jul.31) ahead of 0.6989 (low Jul.23) and then 0.6963 (low Jul.22). On the flip side, a beak above 0.7098 (high Jul.31) would open the door to 0.7124 (high Jul.28) and finally 0.7160 (high Jul.27).
EUR/GBP attention to PMIs
After climbing as high as the vicinity of the key barrier at 0.7100 on Friday, the cross has sparked a correction lower to the current area of the low-0.700s, along with a pick-up in the demand for the US dollar.
Ahead in the session, the final manufacturing PMIs for the last month in Euroland and the UK are due, ahead of the more relevant Services PMI in the British economy due on Wednesday.
EUR/GBP key levels
At the moment the cross is losing 0.08% at 0.7023 facing the next support at 0.7003 (low Jul.31) ahead of 0.6989 (low Jul.23) and then 0.6963 (low Jul.22). On the flip side, a beak above 0.7098 (high Jul.31) would open the door to 0.7124 (high Jul.28) and finally 0.7160 (high Jul.27).