Heavy recessionary economic conditions prevail in the UK and Europe, as high interest rates, blow-out deficit/debt spending and war continues. Inflation has been tumbling lower across Europe as the economic recession spreads across the economic zone. The war in Eastern Europe adds instability and threatens Geo-Political and economic conditions. Close attention will be paid to the coming PMI data set to be released, which will give insight to the current economic conditions.
Current Level: 1.7660
Resistance: 1.8100
Support: 1.7639
Last Weeks Range: 1.7650 – 1.0805