Forex: EUR/GBP soars to 14-month high

FXstreet.com (Córdoba) - The British Pound plummeted earlier on, following a much weaker-than-expected UK Manufacturing PMI figure for April at 54.6, down from 56.7 in March.

While the Pound is under pressure across the board the Euro is mixed. EUR/GBP jumped more than 60 pips after the data and set a fresh 14-month high at 0.8978 before finding resistance. At time of writing, the pair is trading just below that peak, at the 0.8970 zone, where it posts a 0.74% daily gain.

Immediate resistance levels for EUR/GBP might be faced at 0.8980 ahead of the 0.9000 psychological level, while next supports could be found around 0.8955 and the 0.8930/35 zone.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS