Bullish currency pair Euro-Pound runs out of steam at 0.8887; currently at 0.8884

Euro-Pound trades at 0.8884 after gaining 51 pips (0.58%).

This move comes while some more positive signs for Euro-Pound are out as highly important Construction PMI data from United Kingdom beat analyst expectations of 49.1 with a reading of 54.6.

Meanwhile, Euro Zone Retail Sales released earlier showed a marked improvement to 0.3% from the preceding data of -1.6%, but fell short of the 1% figure forecast by a consensus of market analysts.

Elsewhere, other currency pairs are also gaining ground as EUR/NZD gained 0.99% and is currently trading at 1.7252. EUR/AUD soars 1.04% to trade around 1.587. Having closed the previous session at 1.4454, EUR/CAD is up 0.58% today to currently trade at around 1.4538.

The market is looking forward to the release of new data: projections for Germany Factory Orders are set for a continuation of decline with -1% while previous data was 3.2%; data will be released tomorrow at 08:00 UTC. United Kingdom BRC Retail Sales Monitor (YoY) (Feb) will be released tomorrow at 00:01 UTC. United Kingdom House Price Index is expected tomorrow at 07:00 UTC.

Trading mostly sideways for 28 days. After setting a supportive marker at 0.7134 around 8 months ago, Euro-Pound is now trading 23.81% higher.