Chart - Courtesy Trading View
EUR/GBP fades initial gains and was trading 0.06% lower on the day at 0.8574 at around 08:50 GMT.
The pair hit 8-month highs at 0.8618 after poor UK GDP data, before paring some gains to slip lower.
Data released earlier on Thursday showed UK’s first readings of the Q1 2022 GDP eased to 0.8% QoQ, below 1.0% forecasts.
On a month-on-month basis, GDP posted a negative print of -0.1% for March, versus +0.1% expected and prior.
UK Industrial Production and Manufacturing Production data for March also disappointed market expectations, weighing on the pound.
Apart from poor data, Brexit woes also weigh on the British pound and are likely to keep the pair buoyed.
Major Support Levels:
S1: 0.8558 (5-DMA)
S2: 0.8496 (200H MA)
Major Resistance Levels:
R1: 0.8591 (110-week EMA)
R2: 0.86
Summary: EUR/GBP slips lower from 8-month highs, but outlook remains bullish. Price action is still above 200H MA and retrace below will see some weakness.


NZD/JPY Springs Off 38.2% Fib Support: Triple EMA “Buy the Dip” Setup Eyes 96.15–97
BTC Craters Below All Key EMAs: $2.63B ETF Selloff Triggers 'Sell on Rallies' to $67K
FxWirePro: GBP/USD range-bound as Iran uncertainty keeps traders cautious
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: GBP/USD remains range-bound amid growing Middle East instability concerns
FxWirePro: GBP/AUD recovers some ground, geopolitics holds center stage
FxWirePro: GBP/NZD recovers some ground but bearish outlook persists
FxWirePro: USD/ZAR recovers some ground but outlook is bearish
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Pair levels and bias summary
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85
FxWirePro- Major Crypto levels and bias summary
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data 



