3 Feb 2015
EUR/GBP little changed after upbeat UK PMI Report
FXStreet (Mumbai) - EUR/GBP remained in green after UK construction sector rose well above expectations in January after 17-month low in December.
EUR/GBP unmoved by the data
The EUR/GBP pair traded at 0.7548 levels, up 0.09% on the day, having previously posted day’s high at 0.7560 levels. The EUR/GBP remained unperturbed by the upbeat UK data which revealed that business activity in construction sector, which accounts for some 6.3% of the UK's total GDP, remained firmly above the contraction line for the 21st consecutive month in January, with the headline PMI rising to 59.1, up from last month's 57.6 and above the forecast of 57.0. The solid data from the UK left the GBP bulls unimpressed as the GBP/USD pair held steady at 1.5015 levels.
Meanwhile, traders continue to digest reports that the European Central Bank (ECB) is considering leaving “Troika” of international lenders that governs Greece’s bailout.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7560 and above which it could extend gains to at 0.7591 levels. To the downside immediate support might be located at 0.7500 and below that at 0.7478 levels.
EUR/GBP unmoved by the data
The EUR/GBP pair traded at 0.7548 levels, up 0.09% on the day, having previously posted day’s high at 0.7560 levels. The EUR/GBP remained unperturbed by the upbeat UK data which revealed that business activity in construction sector, which accounts for some 6.3% of the UK's total GDP, remained firmly above the contraction line for the 21st consecutive month in January, with the headline PMI rising to 59.1, up from last month's 57.6 and above the forecast of 57.0. The solid data from the UK left the GBP bulls unimpressed as the GBP/USD pair held steady at 1.5015 levels.
Meanwhile, traders continue to digest reports that the European Central Bank (ECB) is considering leaving “Troika” of international lenders that governs Greece’s bailout.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7560 and above which it could extend gains to at 0.7591 levels. To the downside immediate support might be located at 0.7500 and below that at 0.7478 levels.