EUR/GBP chart - Trading View
EUR/GBP was trading lower at 0.9007 at around 06:30 GMT, holds strong support at 0.90 handle.
The British pound was buoyed after UK CPI data which beats estimates. However, another failed attempt to seal the Brexit deal weighs.
Headline UK CPI rose 1.0% YoY in July beating estimates for a rise to +0.6%. Meanwhile, the core inflation gauge also surpassed expectations and came in at +1.8% YoY, up from the 1.4% increase in June.
EUR/GBP is extending previous session's losses, but struggles to break below 0.90 support.
The pair trades in a 'Symmetric Triangle' pattern and technical indicators do not provide a clear directional bias.
Break out of the 'Symmetric Triangle' pattern would provide cue for further direction.
Support levels - 0.90 (converged 55-EMA and Triangle base), 0.8965 (Lower BB), 0.8933 (110-EMA)
Resistance levels - 0.9031 (21-EMA), 0.9085 (50% Fib and Triangle Top), 0.91
