- 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
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)
