End of rally? After five days of gains, Euro-Pound is down 26 pips today

Published: January 25 2023, 22:11 GMT+0

End of rally? After five days of gains, Euro-Pound is down 26 pips today

Slightly weaker but mostly flat: EUR/GBP is currently trading at 0.88 as it maintains an active range between 0.8797 and 0.8852.

Highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

Meanwhile, United Kingdom Services PMI came out at 48, while a consensus of analysts was expecting 49.6. United Kingdom Composite PMI released yesterday at 09:30 UTC with a figure of 47.8, while the previous figure was 49.

Furthermore, United Kingdom Labour Productivity is expected tomorrow at 09:30 UTC.

Trading mostly sideways for a month. Euro-Pound is now trading 9.8% away from its significant high of 0.9785 first tested 3 months ago.

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