FxWirePro: EUR/GBP rangebound ahead of European open, awaits EZ PMI data
Monday, October 5, 2015 6:36 AM UTC
- EUR/GBP trades a tight range in the Asian session, with day's highs at 0.7392 and lows at 0.7378
- Later in the day, attention turns towards a raft of final services PMI readings from the Euro zone
- In focus will be UK final services PMI for Sept, expectations are for the headline figure to have improved somewhat from the more than two-year low seen in Aug
- The pair is currently trading at 0.7386, still remains pressured below the 0.74 handle
- Immediate resistance is seen at 0.7392 (day's high) ahead of 0.7430 (Sept 30 highs) and then 0.7435 (Sept 29 highs)
- Support on the downside is seen at 0.7355 (Oct 1st low) and then at 0.7337 (Daily Tenkan) and further below at 0.7334 (Sept 28th low)