FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

EUR/GBP was trading 0.23% higher on the day at 0.8371 at around 09:30 GMT. The pair snapped three consecutive days of losses, retests 20-DMA resistance.

According to the data released by the UK Office for National Statistics earlier on Tuesday, the number of people claiming unemployment-related benefits fell by 31.9K in January as against 43.3K previous. 

Further, the ILO Unemployment rate held steady at 4.1% during the three months ending December.

Details of the report showed that Average Earnings decelerated further in December, though were slightly better than market expectations. 

Worries over an imminent Russian invasion of Ukraine continues to weigh on investors' sentiment.

Major trend in the pair is bearish. Upside potential looks limited. Decisive break above 21-EMA at 0.8382 will negate any further weakness.