EUR/GBP Remains Vulnerable With Upside Attempts Capped Below 0.8590

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Euro recovery attempts fail below 0.8600.

Eurozone Services PMI revised higher, yet into contraction levels.

The broader trend remains bearish with 0.8550 support in play.

The euro remains depressed near three-month lows against the . The pair;’s mild recovery attempt seen during Tuesday’s early European session has found resistance at 0.8590 before easing to the mid-range of 0.8900.
 UK services activity increases beyond expectationsEurozone’s November Services PMI data has been revised upwards, with all major country members registering better than expected levels than previously estimated. Business activity in the sector, however, has contracted for the fourth consecutive month which is not good news for .

In contrast, the UK services sector activity expanded in November and has been revised to 50.9 from the previously estimated 50.5 from 49.5 in October, which has provided some support to the Pound.

The technical picture shows a bearish Euro with no clear sign of a trend change on sight. Next support is at 0.8550 and below here, 0.7500 and 0.8455.

On the upside, 0.8590 and 0.8620 are the nearest resistance levels.
 Technical levels to watchEUR/GBP

OVERVIEW Today last price 0.8568 Today Daily Change -0.0009 Today Daily Change % -0.10 Today daily open 0.8577 TRENDS Daily SMA20 0.8691 Daily SMA50 0.8683 Daily SMA100 0.864 Daily SMA200 0.8675 LEVELS Previous Daily High 0.8586 Previous Daily Low 0.8559 Previous Weekly High 0.8688 Previous Weekly Low 0.856 Previous Monthly High 0.8766 Previous Monthly Low 0.8614 Daily Fibonacci 38.2% 0.8575 Daily Fibonacci 61.8% 0.8569 Daily Pivot Point S1 0.8562 Daily Pivot Point S2 0.8547 Daily Pivot Point S3 0.8535 Daily Pivot Point R1 0.8589 Daily Pivot Point R2 0.8601 Daily Pivot Point R3 0.8616

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