EUR/GBP Live News

This page provides live coverage and news analysis on the EUR/GBP currency pair

Advertiser Disclaimer

Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Home

Live News

EUR/GBP

Jun. 7, 2023

Mixed sentiment sees Euro-Pound currency pair ending the session broadly flat; establishes tight 0.8583 to 0.8636 range

Live - Updated 41 minutes ago.

Euro-Pound drops from 0.8608 to 0.86, losing 8 pips (0.09%) today.

On the flip side, United Kingdom Construction PMI beat analyst expectations of 51.1 and the previous reading of 51.1 with new data of 51.6.

While price action maintains a negative bias, United Kingdom Mortgage Rate (GBP) (May) released today at 08:50 UTC with a figure of 7.44, while the previous figure was 7.35. Germany Industrial Production released earlier showed a marked improvement to 0.3% from the preceding data of -2.1%, but fell short of the 0.6% figure forecast by a consensus of market analysts.

Despite being in the red so far in the current trading session, EUR/GBP peaked above its 5 day Simple Moving Average around 0.861 — typically an early indicator of a new bullish trend beginning to emerge. Euro-Pound's lower Bollinger Band® is at 0.8576, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Despite suffering losses in today's session, technical analysis is indicating that Euro-Pound will undergo a significant bounce in the immediate term.

Positive performances can be seen by looking at other currencies as GBP/NZD gained 0.74% and is currently trading at 2.058. Having closed the previous session at 1.7592, EUR/NZD is up 0.62% today to currently trade at around 1.77. GBP/JPY added 0.46% to its value, now trading at 174.18.

Furthermore, Euro Zone GDP expected to decline to zero while its preceding data was 0.1, data will be available tomorrow at 09:00 UTC. Euro Zone GDP projected to decline to 1.2% while previous data was 1.8%; data will be released tomorrow at 09:00 UTC. United Kingdom RICS House Price Balance (May) is scheduled for today at 23:01 UTC.

Trading mostly sideways for 4 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 12.03% below this level.

trade on the EUR/GBP

Week to date

Stalemate for Euro-Pound bulls and bears .

Trading week at a glance - EUR/GBP is up to 0.86, after closing yesterday at zero. Overall, a 0% move or 8,600 pips this week. (Trade Euro-Pound with FXTM now).

Euro-Pound upside coincides with further encouraging market factors as data for United Kingdom Construction PMI published yesterday at 08:30 UTC came out at 51.6, beating projections of 51.1 and showing improvement over the preceding figure of 51.1.

At the same time, United Kingdom Composite PMI came out at 54, while a consensus of analysts was expecting 53.9. Euro Zone Consumer Price Index released Thursday with a figure of 6.1%, while the previous figure was 7%. Fresh Mortgage Rate (GBP) (May) data from United Kingdom came out at 7.44. Germany Industrial Production released earlier showed a marked improvement to 0.3% from the preceding data of -2.1%, but fell short of the 0.6% figure forecast by a consensus of market analysts.

Also worthy of note, United Kingdom Average Earnings Index +Bonus is expected Tuesday.

The market is looking forward to the release of new data: United Kingdom Claimant Count Change (May) scheduled to come out Tuesday. Germany Consumer Price Index is expected Tuesday.

Previous
Weekly Analysis