After closing the previous trading day at 0.862, EUR/GBP went up to 0.87 only to drop back; still positive overall today, now trading at 0.8685.
United Kingdom BoE Gov Bailey speech is next today at 12:30 UTC.
At the same time, United Kingdom BoE Interest Rate Decision (Nov) came out at three, while a consensus of analysts was expecting three. United Kingdom Services PMI released today at 09:30 UTC with a figure of 48.8, while the previous figure was 50. United Kingdom Composite PMI came out at 48.2, while a consensus of analysts was expecting 47.2.
A look at other currencies also shows bullish price action as USD/CHF jumps 0.92% to trade around 1.0124.
Meanwhile, GBP/USD closed at 1.124 (down 1.34%). GBP/JPY is down 193 pips from the beginning of the session and now trades around 166.5.
Furthermore, the market is looking at United Kingdom Construction PMI projected to come out at 50.5 — worse than previous data of 52.3; data will be released tomorrow at 09:30 UTC.
Furthermore, the market is looking at United Kingdom BoE Gov Bailey speech is scheduled today at 14:15 UTC. Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 09:30 UTC.
Euro-Pound is now trading 11.9% away from its significant high of 0.9785 first tested 25 days ago.