{"id":112869,"date":"2022-08-04T07:01:22","date_gmt":"2022-08-04T06:01:22","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112869"},"modified":"2022-08-04T07:03:31","modified_gmt":"2022-08-04T06:03:31","slug":"107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\/","title":{"rendered":"GBP\/EUR: Halts Two-Day Rally, 1.2 Emerge as Strong Resistance"},"content":{"rendered":"<ul>\n<li>GBP to EUR finds strong resistance near \u20ac1.2000<\/li>\n<li>EUR weakens on mixed EU PMI data<\/li>\n<li>EU retail sales plunge fueling fears of a recession<\/li>\n<li>BOE interest rate decision eyed<\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate halts a two-day rally after running into strong resistance near the \u20ac1.2000 big psychological level. The pair declined -0.15% in the previous session settling on Wednesday at \u20ac1.1945, after trading in a range between \u20ac1.1987 \u2013 \u20ac1.1941.<\/p>\n<p>At 05:55 UTC, GBP\/EUR trades +0.06% at \u20ac1.1952.<\/p>\n<p>In Europe, growth in the service sector as compiled by S&amp;P Global Market Intelligence weakened in Germany and Italy entering in contraction for the first time since early 2021 the survey showed on Wednesday.<\/p>\n<p>At the same time, retail sales in the Eurozone dropped more than the market consensus. The data showed on Wednesday that retail sales plunged in June by -1.3% and respectively -3.7% year-over-year adding to fears that the Eurozone is heading into a recession.<\/p>\n<h2>Bank of England<\/h2>\n<p>The main risk event that can boost the pair\u2019s volatility includes the Bank of England (BOE) interest rate decision. Based on the market consensus, the central bank is set to hike the benchmark interest rate by 50 basis points later in the day.<\/p>\n<p>This will bring the interest rate up to 1.75% and it will be the first 50 basis points hike since 1997 as the UK is battling the highest level of inflation in nearly four decades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP to EUR finds strong resistance near \u20ac1.2000 EUR weakens on mixed EU PMI data EU retail sales plunge fueling fears of a recession BOE interest rate decision eyed The Pound Euro (GBP\/EUR) exchange rate halts a two-day rally after running into strong resistance near the \u20ac1.2000 big psychological level. The pair declined -0.15% in [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,3440],"class_list":{"0":"post-112869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-gbp","11":"tag-gbpeur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Halts Two-Day Rally, 1.2 Emerge as Strong Resistance - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"GBP\\\/EUR: Halts Two-Day Rally, 1.2 Emerge as Strong Resistance\",\"datePublished\":\"2022-08-04T06:01:22+00:00\",\"dateModified\":\"2022-08-04T06:03:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\\\/\"},\"wordCount\":238,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100898-gbp-eur-brexit-weighs-on-pound.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbpeur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107200-gbp-eur-halts-two-day-rally-1-2-emerge-as-strong-resistance\\\/\",\"name\":\"GBP\\\/EUR: Halts Two-Day Rally, 1.2 Emerge as Strong Resistance - 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