After three days of declines, Euro-Pound is up 8 pips today

After ending yesterday at 0.8762, EUR/GBP ascended as high as 0.8785 before meeting resistance. Undeterred, EUR/GBP posted a fresh rally late in the trading session targeting 0.8771.

Euro-Pound is currently trading at 0.8771 following the release of Composite PMI data from the United Kingdom.

At the same time, United Kingdom Composite PMI released today at 08:30 UTC with a figure of 52.2, while the previous figure was 53.1. Euro Zone Composite PMI came out at 53.7, while a consensus of analysts was expecting 54.1. Spain Services PMI released today at 07:15 UTC with a figure of 59.4, while the previous figure was 56.7.

Other currencies are also rising as EUR/AUD is up 0.77%.

While Euro-Pound is up today, these currencies are lagging behind: AUD/USD is down 64 pips from the beginning of the session and now trades around 0.6692. GBP/JPY closed at 164 (down 0.32%).

Furthermore, the market is looking at United Kingdom Construction PMI projected to decline to 53.5 while previous data was 54.6; data will be released tomorrow at 08:30 UTC.

The market is looking forward to the release of new data: United Kingdom House Price Index figure is projected at -0.3%. It previously stood at 1.1%; data will be released tomorrow at 06:00 UTC. Germany Industrial Production projected to come out at 0.1% — worse than previous data of 3.5%; data will be released tomorrow at 06:00 UTC.

Trading mostly sideways for 2 months. Euro-Pound is now trading 10.45% away from its significant high of 0.9785 first tested 5 months ago.