EUR/GBP wobbles around the 0.90 mark on Monday. The cross came under pressure after highs in the 0.9150 area. UK Manufacturing PMI rose to 53.3 for the month of July. The correction lower in both the sterling and its ex European peer is prompting EUR/GBP to gyrate around the 0.90 neighbourhood so far on Monday. EUR/GBP faces contention near the 100-day SMA EUR/GBP is trading directionless following two consecutive daily pullbacks and after being rejected from recent tops in the mid-0.9100s. In the meantime, profit taking is the name of the game in the risk complex in light of the July’s rally, all amidst the moderate pick up in the demand for the greenback. The macro environment remains unaltered, however, with the usual trade-off between the pandemic and prospects of a strong recovery. Data wise, manufacturing PMIs in Euroland came in above the preliminary readings during last month, while the UK’s PMI rebounded further albeit a tad below initial estimate. EUR/GBP key levels The cross is gaining 0.01% at 0.8998 and faces the next hurdle at 0.9148 (monthly high Jul.27) followed by 0.9175 (monthly high Jun.21) and finally 0.9324 (2019 high Aug.12). On the downside, a breach of 0.8980 (weekly low Jul.31) would expose 0.8937 (monthly low Jul.10) and then 0.8864 (monthly low Jun.9). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Kaplan: Virus can be managed without another shutdown if all wear masks FX Street 3 years EUR/GBP wobbles around the 0.90 mark on Monday. The cross came under pressure after highs in the 0.9150 area. UK Manufacturing PMI rose to 53.3 for the month of July. The correction lower in both the sterling and its ex European peer is prompting EUR/GBP to gyrate around the 0.90 neighbourhood so far on Monday. EUR/GBP faces contention near the 100-day SMA EUR/GBP is trading directionless following two consecutive daily pullbacks and after being rejected from recent tops in the mid-0.9100s. In the meantime, profit taking is the name of the game in the risk complex in light of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
