🧾 EUR/GBP Nears Year-to-Date Highs at 0.8753 After Weak UK PMI Data
Posted on September 23, 2025
🔍 Key Highlights:
EUR/GBP Rises: The Euro gains for the fourth consecutive day, climbing toward YTD highs of 0.8753.
UK PMIs Disappoint:
Manufacturing PMI: Falls to 46.2, the lowest since April (vs. 47 expected).
Services PMI: Drops to 51.9 from 54.2 (vs. 52.7 expected).
Eurozone PMIs Mixed:
Services: Stronger than expected.
Manufacturing: Weaker than forecast.
Sterling Weakness: Driven by poor economic data and concerns over UK public finances (record-high August borrowing and expected tax hikes in November).
💱 EUR/GBP Price Action:
Current Price Zone: 0.8745 – 0.8753
Resistance: This area marks previous peaks from late July to early August.
Trend: Uptrend continuation as Euro strengthens and Pound weakens.
📉 UK Economic Snapshot:
Indicator
Latest Reading
Previous
Forecast
Sentiment
Manufacturing PMI
46.2
47.0
47.0
Bearish
Services PMI
51.9
54.2
52.7
Bearish
Interpretation: Both readings indicate a slowdown, especially in manufacturing which is in contraction territory (< 50).
Implications: Weak data fuels expectations of slower growth and potential tax hikes, increasing pressure on GBP.
