EURGBP Climbs Despite UK PMI Powerhouse, Targets 0.8800

EURGBP trades higher despite upbeat UK PMI data.  As long as support 0.8660 holds, intraday bias is positive. Currently trading at 0.87253, it reached an intraday high of 0.87315.

With the Composite PMI rising to 51.1, surpassing expectations of 50.6 and signaling a strong rise across industries, October 2025 UK Flash PMI disclosed supported by Jaguar Land, a two-month high, while Manufacturing PMI recovered dramatically to 49.6 from 46.2, exceeding 46.6 estimates and ending a year-long downturn streak. Services PMI slightly increased to 51.1 in line with projections; however, weak consumer sentiment and Budget worries hampered its progress. Rover's cyberattack recovery, restocking, and developing home demand; Since May, employment cuts slowed to their lowest; input cost inflation fell to November 2024 lows more in line with the Bank of England's 2% target, and Business confidence reached its second-highest since last October in the middle of planned investments, yet export problems from U.S. tariffs persisted, so slowing growth to a meager 0.1% GDP pace. as companies watch the November Budget warily.

Technical Analysis

The pair is currently trading above 55 and 200- EMA and 365-EMA on the 4-hour chart.

Bearish Trend Confirmation: Any break below 0.8660 confirms an intraday bearish trend. A drop to 0.8630/0.8600/0.8560/0.8520/0.8480 is likely.

Near-Term Resistance:  The near -term resistance is around 0.8752. Any violation above will take the pair to 0.8800/0.8850.

Indicator Analysis (4-hour chart)

CCI (50): Bullish

Average Directional Movement Index:  Bullish

Trading Recommendation

It  is good to buy on dips around 0.8700 with SL around 0.8660 for a TP of 0.8800.