

Market Analysis
The EUR/GBP pair continued its upward movement, reaching 0.8455 during early European trading on Thursday. This recovery follows a bounce from its lowest level since August 2022, around 0.8418, fueled by lackluster UK economic data.
April's UK Gross Domestic Product (GDP) showed no growth, matching expectations, while Industrial Production declined by 0.9% month-on-month, contrasting with a slight increase in March and worse than the anticipated -0.1%.
Meanwhile, the Euro gained support from a less dovish stance by the European Central Bank (ECB) as President Christine Lagarde tempered expectations for further interest rate cuts in July, opting to await upcoming economic indicators.
Market focus now shifts to Thursday's release of Eurozone Industrial Production figures for April, projected to show a 0.2% increase from March's 0.6%. However, concerns over the Eurozone's manufacturing sector could limit EUR strength and restrain gains in the EUR/GBP pair.
EURGBP
OVERVIEW | |
---|---|
Today last price | 0.8454 |
Today Daily Change | 0.0008 |
Today Daily Change % | 0.09 |
Today daily open | 0.8446 |
TRENDS | |
---|---|
Daily SMA20 | 0.8508 |
Daily SMA50 | 0.8548 |
Daily SMA100 | 0.8548 |
Daily SMA200 | 0.8599 |
LEVELS | |
---|---|
Previous Daily High | 0.8452 |
Previous Daily Low | 0.8418 |
Previous Weekly High | 0.8536 |
Previous Weekly Low | 0.8489 |
Previous Monthly High | 0.8621 |
Previous Monthly Low | 0.8484 |
Daily Fibonacci 38.2% | 0.8439 |
Daily Fibonacci 61.8% | 0.8431 |
Daily Pivot Point S1 | 0.8425 |
Daily Pivot Point S2 | 0.8405 |
Daily Pivot Point S3 | 0.8392 |
Daily Pivot Point R1 | 0.8459 |
Daily Pivot Point R2 | 0.8472 |
Daily Pivot Point R3 | 0.8493 |
Paraphrasing text from "FX Street" all rights reserved by the original author.