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4 May 2015
EUR/GBP sidelines sub-0.7400
FXStreet (Edinburgh) - The recent upbeat momentum in the euro gave extra wings to EUR/GBP, lifting it to the 0.7400 neighbourhood.
EUR/GBP attention to PMIs
Markets in the UK will remain closed on Monday, while the final manufacturing PMIs in the euro area will be the main events today, albeit far from being a market mover. Consensus expects the final prints for April to come in almost unchanged from the preliminary ones.
Back to the UK, all the attention will be on the general elections on Thursday, with the pound expected to come under renewed pressure.
EUR/GBP levels to watch
The cross is now losing 0.02% at 0.7390 with the next support at 0.7301 (low May 1) ahead of 0.7187 (low Apr.30) and finally 0.7137 (low Apr.29). On the flip side, a breakout of 0.7400 (psychological level) would expose 0.7419 (high May 1) and finally 0.7444 (high Feb.17).
EUR/GBP attention to PMIs
Markets in the UK will remain closed on Monday, while the final manufacturing PMIs in the euro area will be the main events today, albeit far from being a market mover. Consensus expects the final prints for April to come in almost unchanged from the preliminary ones.
Back to the UK, all the attention will be on the general elections on Thursday, with the pound expected to come under renewed pressure.
EUR/GBP levels to watch
The cross is now losing 0.02% at 0.7390 with the next support at 0.7301 (low May 1) ahead of 0.7187 (low Apr.30) and finally 0.7137 (low Apr.29). On the flip side, a breakout of 0.7400 (psychological level) would expose 0.7419 (high May 1) and finally 0.7444 (high Feb.17).