EUR/GBP around lows near 0.7250

By FXStreet FXStreet (Edinburgh) – A continuation of the softer tone round the single currency is dragging EUR/GBP to challenge session lows in the mid-0.7200s so far.

EUR/GBP attention to UK data

A risk-on sentiment continues to prevail in early Wednesday, dragging the pair to the 0.7250/40 band ahead of key releases in the UK economy. Spot is retreating for the third consecutive session and testing 3-week lows as EUR is failing to gather any traction.

Next of relevance for the cross will be UK’s Industrial and Manufacturing Production, Trade Balance figures and the NIESR GDP Estimate for the three months ended in August.

EUR/GBP key levels

At the moment the cross is losing 0.23% at 0.7259 and a breach of 0.7200 (psychological level) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the initial up barrier lines up at 0.7286 (high Sep.9) followed by 0.7376 (high Sep.3) ahead of 0.7398 (high Sep.2).
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Source:: FX Street