EUR/GBP turns intraday negative

FXStreet (Córdoba) - The EUR/GBP came under pressure and turned intraday negative during the European trade as the Sterling strengthened after the UK construction PMI reached a 6 ½-year high in January.

The EUR/GBP was rejected from a 3-week high of 0.8325 and fell all the way back to 0.8265 weighed by stronger-than-expected UK construction data, before the 20-day SMA contained the downside. At time of writing, the EUR/GBP is trading at the 0.8270 zone, 0.3% below its opening price.

EUR/GBP levels to watch

In terms of technical levels, the EUR/GBP could find immediate supports at 0.8265 (Feb 4 low) and 0.8240 (10-day SMA) ahead of 0.8200 (psychological level). On the flip side, resistances are seen at 0.8325 (Feb 4 high), 0.8347 (Jan 13 high) and 0.8370 (100-day SMA).