3 Jul 2013
EUR/GBP trading below 0.8500
FXstreet.com (London) - EUR/GBP has positioned its quote below 0.8500 after an attempt above this afternoon.
EUR/GBP has been offered in the NY shift. The pair are losing almost a full 1% since the Asian open. Prior to the ECB tomorrow, we have been given an insight to the services sector and seen Markit Services for the nations Italy, Germany that were printing in the red, while the lesser of nations in focus as France and Spain were slightly higher. The EZ data in Markit Serivices PMI and Markit PMI composite were both in the red.
Overall, this data will be adding fuel to sentiment around a dovish ECB’s on Thursday. The 0.8422 mid-May low is offering near term support in the 0.8400’s on the downside, while next, the 2012-13 support line comes into focus at 0.8401. Meanwhile, action in the USD crosses is effecting EURGBP to the downside as Sterling out performs.
EUR/GBP has been offered in the NY shift. The pair are losing almost a full 1% since the Asian open. Prior to the ECB tomorrow, we have been given an insight to the services sector and seen Markit Services for the nations Italy, Germany that were printing in the red, while the lesser of nations in focus as France and Spain were slightly higher. The EZ data in Markit Serivices PMI and Markit PMI composite were both in the red.
Overall, this data will be adding fuel to sentiment around a dovish ECB’s on Thursday. The 0.8422 mid-May low is offering near term support in the 0.8400’s on the downside, while next, the 2012-13 support line comes into focus at 0.8401. Meanwhile, action in the USD crosses is effecting EURGBP to the downside as Sterling out performs.