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EUR/GBP keeps range near 0.7365 on UK PMI

FXStreet (Mumbai) - The offered around the EUR/GPB cross remained intact in the European morning, following the release of the UK factory data, which outpaced estimates.

EUR/GBP little changed post UK data

Currently, the EUR/GBP pair falls -0.31% to 0.7366, retreating slightly away from fresh session lows of 0.7356 struck in last hours. The EUR/GBP cross keeps losses as the pound remains firmer after the UK PMI reading held steady at 51.5 at the end of the third quarter, although stood above estimates (51.3).

While, the cross remains heavy as the euro remains pressured against the US dollar on the back of dismal EZ PMI readings and amid growing deflation fears.
Markets now await the US ISM report for further momentum.

EUR/GBP Technical Levels

To the upside, the next resistance is located at 0.7389 (Today’s High) levels and above which it could extend gains to 0.7431 (Sept 30 Highs) levels. To the downside immediate support might be located at 0.7333 (Sept 28 Low) below that at 0.7292 (Sept 11 Low).

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