4 Nov 2014
EUR/GBP finds resistance at 0.7830
FXStreet (Córdoba) - EUR/GBP is rising modestly on Tuesday on the back of weak data from the United Kingdom and it has been able to hold above 0.7800. Yesterday the pair bottomed at 0.7798, reaching the lowest price in a month.
During the Asian session the recovery from 0.7800 found resistance around 0.7830. After the release of data in the UK rose back toward the highs but once again lost bullish momentum near 0.7830. The pair remain moving sideways between 0.7810 and 0.7825 after inflation numbers from the Eurozone.
EUR/GBP steady after data
In the UK, the PMI construction index fell in october from 64.2 to 61.4 weakening the pound. Inflation numbers from the Eurozone showed that the Producer Price Index rose 0.2% in september, above the 0.0% expected; the annual rate remained at -1.4%; above the -1.5% expected.
During the Asian session the recovery from 0.7800 found resistance around 0.7830. After the release of data in the UK rose back toward the highs but once again lost bullish momentum near 0.7830. The pair remain moving sideways between 0.7810 and 0.7825 after inflation numbers from the Eurozone.
EUR/GBP steady after data
In the UK, the PMI construction index fell in october from 64.2 to 61.4 weakening the pound. Inflation numbers from the Eurozone showed that the Producer Price Index rose 0.2% in september, above the 0.0% expected; the annual rate remained at -1.4%; above the -1.5% expected.