6 May 2014
EUR/GBP steady after solid UK services PMI
FXStreet (Córdoba) - The EUR/GBP remained little changed near daily lows after the UK services PMI data showed the sector expanded at a faster pace in April.
UK Markit services PMI rose to 58.7 in April versus 57.6 expected, but data failed to give the pound to offer the pound a fresh boost, leaving the EUR/GBP little changed at the 0.8915 zone, 0.11% below its opening price.
Euro area retail sales for March will also be released today, with median forecast signaling a 0.2% contraction MoM and a 1.0% rise YoY.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks below 0.8212 (May 6 low), next supports could be found at 0.8200 (psychological level) and 0.8189 (Feb 28 low). On the other hand, resistances are seen at 0.8225 (May 6 high), 0.8232 (May 5 high/21-day SMA) and 0.8245 (Apr 23 high).
UK Markit services PMI rose to 58.7 in April versus 57.6 expected, but data failed to give the pound to offer the pound a fresh boost, leaving the EUR/GBP little changed at the 0.8915 zone, 0.11% below its opening price.
Euro area retail sales for March will also be released today, with median forecast signaling a 0.2% contraction MoM and a 1.0% rise YoY.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks below 0.8212 (May 6 low), next supports could be found at 0.8200 (psychological level) and 0.8189 (Feb 28 low). On the other hand, resistances are seen at 0.8225 (May 6 high), 0.8232 (May 5 high/21-day SMA) and 0.8245 (Apr 23 high).