• Above estimates Euro zone CPI figures failed to lift the sentiment around the common currency
  
  
• EUR/GBP is currently trading at 0.7267, having fully retraced last Mon's 0.7246-0.7421 spike
  
  
• Price action was capped at 0.7298, just shy of 0.7300 barrier, risk remains on the downside
  
  
• Daily momentum is negative, there is scope for further losses to the 30-DMA at 0.7123
  
  
• UK holiday leaves pair sidelined for now, initial resistance at 0.7354 Fri's peak, while supports lie at 10dma by 0.7242 before 0.7235 - 38.2% of 0.6935-0.7421
  
  

Resistance Levels: 

R1: 0.7354 (Daily High Aug 28)

R2: 0.7356 (200-Day MA)

R3: 0.7364 (Daily High Aug 26)

Support Levels:

S1: 0.7246 (Daily Low Aug 24/31)

S2: 0.7242 (10-Day MA)

S3: 0.7235 (38.2% Fibo 0.6935-0.7421)