• The EUR/GBP cross was falling on Tuesday and bulls failed to hold the price above the £0.73 mark, which led to a sharp fall, although it has slightly stabilized since then.

• Earlier in the session, Eurostat advised that GDP in the euro zone for Q2 remained at 0.4%, while the yearly change improved to 1.5% from 1.0% previously.

• It was seen losing 0.75%, changing hands at £0.7250 during midday trading, with the cross trading at a very important support level.

• The technical outlook is bearish, if the price declines below the £0.7250 support area, otherwise some consolidation is likely, due to oversold short-term conditions.