- EUR / GBP falls for the third day in a row, despite the data.
- Persistence of negative bias could test the 0.8600 area.
EUR / GBP is falling for the third day in a row, retreating after failing to break resistance at 0.8720 in April. The price fell to 0.8622 on Wednesday, the lowest level since April 21.
The cross is trading at 0.8630 / 35, with a bearish bias intact. The advance of the GBP / USD over 1.3900, has as its counterpart the EUR / USD struggling not to fall below 1.2000.
The better-than-expected data in the April services and integrated PMI of the Eurzone did not support the euro. It was the final reading and in the case of the service indicator it involved a revision from 50.3 to 50.
In the UK, the expectation is set on the meeting of the Bank of England. The decision will be announced on Thursday. Policy changes are not expected. If so, the signals will be sought to see what it could announce at the June meeting.
Technical levels
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