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EUR/GBP chart - Trading View
EUR/GBP was trading 0.13% lower on the day at 0.8624 at around 09:30 GMT, outlook bullish.
Upbeat UK GDP data puts a bid under the sterling. The UK economy grew more than initially estimated in the second quarter.
Data released on Thursday by the Office for National Statistics showed UK economy expanded by 5.5% between April and June on a quarterly basis, up from a preliminary estimate of 4.8% growth.
However, increasing fuel crisis in the United Kingdom due to the post-Brexit shortage of truck drivers prevented traders from placing aggressive bullish bets.
Technical bias for EUR/GBP remains bullish, but the pair is facing stiff resistance at 200-DMA, decisive break above required for upside continuation.
Next bull target lies at 38.2% Fib at 0.8747. Rejection at 200-DMA negates any further upside bias.
