Mar. 3, 2021
Euro/Pound today at a glance – a mostly flat day so far with EUR/GBP ranging between 0.8664 and 0.8651 and is now at 0.8662. The United Kingdom Composite PMI is next today at 9:30 AM. (Trade Euro/Pound with FXTM now).
Euro/Pound technical analysis picture ahead of data: The chart visual study suggests Euro/Pound might start to recover soon because it is getting close and is now only 57 pips from the support line at 0.8604, Obviously, dipping below it could be an indication that further losses are ahead. In terms of trend indicators, we can see that at 0.8656, Euro/Pound made an initial breakout below the 3 day Simple Moving Average, an indication of a negative trend.
Overall, technical indicators suggest the Euro/Pound has no obvious direction for the immediate future.
As the market gets ready for data release –
Earlier data releases related to Euro/Pound – Euro Zone Consumer Price Index matches projections with the new data release of 0.9. indicator value is unchanged and is the same as previous data of 0.9. Germany's Unemployment Change fell short of the -13,000 projection at 9,000 and continued its downward trajectory from the previous figure of -37,000.
Coming for Euro/Pound – United Kingdom Construction PMI is projected to outperform last figure with 51 while it previously stood at 49.2, data will be released tomorrow at 9:30 AM. The United Kingdom's Annual Budget Release is scheduled for today at 12:30 PM.
Euro/Pound social media highlights: