EUR/GBP sidelined below 0.73, UK data eyed
FXStreet (Edinburgh) – EUR/GBP is trading in a tight range ahead of the European open on Thursday, with both the single currency and the sterling trading in a flat mood for the time being.
EUR/GBP attention to UK releases
After yesterday’s sharp pullback, the cross is now looking to consolidate in the lower bound of the weekly range in the 0.7285/80 EUR/GBP band, ahead of the UK calendar due later.
Market consensus sees UK Retail Sales expanding at a monthly pace of 0.2%, while sales excluding the Fuel component are expected at 0.1% MoM. Nothing worth mentioning data wise in Euroland, while the most salient event will be the FOMC gathering in the US.
EUR/GBP key levels
At the moment the cross is losing 0.02% at 0.7285 and a breach of 0.7275 (low Sep.17) would aim for 0.7151 EUR/GBP (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 EUR/GBP (high Sep.2).
EUR/GBP is trading in a tight range ahead of the European open on Thursday, with both the single currency and the sterling trading in a flat mood for the time being….
(Market News Provided by FXstreet)