FxWirePro: EUR/GBP retreats from session highs at 0.8459, focus on euro area PMI data
The single currency surrendered part of the recent strong gains as markets await final prints from July’s manufacturing PMIs in Euroland. EUR/GBP retreats from session highs at 0.8459 and is currently trading around 0.84…
The single currency surrendered part of the recent strong gains as markets await final prints from July’s manufacturing PMIs in Euroland.
EUR/GBP retreats from session highs at 0.8459 and is currently trading around 0.8430 levels.
According to the latest CFTC report, speculative net EUR shorts have climbed to the highest level since late February during the week ended on July 26.
Techs on daily charts support upside in the pair, we see scope for test of 0.8523 (July 12 high) on break above 0.8480 levels.
Major supports are seen at 0.8415 (21-DMA), 0.8370 (trendline) and 0.8349 (July 27 low).
Weakness on the downside on break below 0.8325 (trendline). Downside could then see test of 0.8248 (July 14 low).
