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4 May 2015
EUR/GBP hit fresh session lows
FXStreet (Mumbai) - The shared currency is being offered, taking the EUR/GBP pair lower to 0.7375 as Spanish PMI for April printed lower than expected.
Rejected around 0.74
The pair was rejected at the high of 0.7396 earlier today as the EUR was sold ahead of the batch of PMI reports across the Eurozone. The Spanish manufacturing PMI in April printed lower than expected at 54.2. The pair could suffer more losses in case the German manufacturing PMI and Eurozone manufacturing PMI in April print lower than the consensus estimate of 51.9.
EUR/GBP Technical Levels
The immediate resistance is located at 0.74, above which gains could be extended to 0.7453. On the flip side, a break below 0.7355 (100-DMA) could see the pair fall to 0.7330 (5-DMA).
Rejected around 0.74
The pair was rejected at the high of 0.7396 earlier today as the EUR was sold ahead of the batch of PMI reports across the Eurozone. The Spanish manufacturing PMI in April printed lower than expected at 54.2. The pair could suffer more losses in case the German manufacturing PMI and Eurozone manufacturing PMI in April print lower than the consensus estimate of 51.9.
EUR/GBP Technical Levels
The immediate resistance is located at 0.74, above which gains could be extended to 0.7453. On the flip side, a break below 0.7355 (100-DMA) could see the pair fall to 0.7330 (5-DMA).