TenkoFX - Analytics

TenkoFX

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EUR/GBP bounces off lows, near 0.8380

After testing lows in the mid-0.8300s, EUR/GBP has now regained the vicinity of 0.8380.EUR/GBP bid after UK’s PMIThe cross managed to rebound from daily lows in the area of 0.8350 after UK’s Construction PMI has missed expectations during June, falling to 46.0 vs. 50.5 estimated and down from May’s 51.2.Back to Euroland, Investor’s Confidence tracked by the Sentix index dropped to 1.7 for the current month, lower than the previous 9.9.EUR/GBP key levelsThe cross is now losing 0.18% at 0.8379 and a breakdown of 0.8202 (low Jun.29) would open the door to 0.8018 (20- day sma) and then 0.7873 (55-day sma). On the flip side, the next up barrier lines up at 0.8407 (2016 high Jul.1) ahead of 0.8467 (monthly high Dec.17 2013).



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