EUR/GBP Climbs: Euro Gains Traction Despite Mixed UK Economic Signals

EURGBP trades higher after mixed UK PMI data.Intraday  bias  remains bullish  as long as support 0.8480 holds. It hits an  intraday high of 0.85512 and is currently trading around 0.85345.

The June 2025 UK Flash PMI data paints a nuanced economic landscape. Manufacturing remains in contraction, registering at 47.7, which—while still below the neutral 50 mark—suggests the sector’s decline is decelerating somewhat. In contrast, the services sector has logged its second consecutive month of growth, reaching 51.3. This modest expansion, however, is tempered by a notable drop in export orders, indicating that domestic demand rather than international markets is sustaining the sector.

The June 2025 UK Flash PMI data paints a nuanced economic landscape. Manufacturing remains in contraction, registering at 47.7, which—while still below the neutral 50 mark—suggests the sector’s decline is decelerating somewhat. In contrast, the services sector has logged its second consecutive month of growth, reaching 51.3. This modest expansion, however, is tempered by a notable drop in export orders, indicating that domestic demand rather than international markets is sustaining the sector.

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 0.8480 confirms an intraday bearish trend. A drop to 0.84425/0.8400/0.8378/0.8340/0.8300 is likely.

Near-Term Resistance:  The near -term resistance is around 0.8580. Any violation above will take the pair to 0.8615/ 0.8660/0.8765/0.8800.

Indicator Analysis (4-hour chart)

CCI (50): Bullish

Average Directional Movement Index:  Neutral

Trading Recommendation

It  is good to buy on dips around 0.8500 with SL around 0.8480  for a TP of 0.8605.