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FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

EUR/GBP was trading 0.16% lower on the day at 0.8853 at around 10:15 GMT.The pair hovers around 200H MA and decisive break below will drag the pair lower.

Earlier in the session, final Germany inflation figures showed the CPI contracted 0.8% MoM in December and ws up 8.6% over the last twelve months.

Data released by UK’s Office for National Statistics (ONS) showed Claimant Count Change eased to 19.7K versus 30.5K prior.

Further, the UK Unemployment Rate remained unchanged at 3.7% in line with expectations.

Pessimism surrounding the UK’s labor strikes and downbeat testimony from BoE Governor Andrew Bailey also weigh on the British pound.

Major focus will be on Wednesday’s UK Consumer Price Index (CPI) for impetus. Another soft landing could dent the pound.

GMMA indicator shows major and minor trend in the pair are bullish. That said, break below 200H MA could change near-term dynamics. 
 

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