EUR/GBP in Red Around 0.7900, UK Data Eyed

EUR/GBP in Red Around 0.7900, UK Data Eyed

4 May 2016, 07:49
Roberto Jacobs
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EUR/GBP in Red Around 0.7900, UK Data Eyed

EUR/GBP is snapping a 3-day positive streak on Wednesday, currently wobbling around the 0.7900 handle after testing highs near 0.7920 on Tuesday.

EUR/GBP focus on UK, EMU data

The cross is posting moderate losses at the end of the Asian session today, following a softer tone in the single currency and the sterling while the risk aversion is poised to prevail ahead of the European opening bell.

Ahead in the day, final April Services PMIs are due later followed by EMU’s Retail Sales and UK’s Construction PMI.

EUR/GBP key levels

The cross is now losing 0.18% at 0.7896 facing the next support at 0.7863 (55-day sma) ahead of 0.7731 (low Apr.26) followed by 0.7721 (100-day sma). On the other hand, a surpass of 0.7919 (20high May 3) would expose 0.7995 (high Apr.18) and then 0.8119 (2016 high Apr.7).


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