Chart - Courtesy Trading View
EUR/GBP was trading muted at 0.8416 at around 10:35 GMT, down from session highs at 0.8440.
The pair has failed at channel top resistance and has retraced below 200-DMA.
Price action hovers near cloud top and 110-EMA support at 0.8409, break below will drag the pair lower.
Eurozone Preliminary Inflation surges 7.5% YoY in March, much higher than the previous reading of 5.9% and beating forecasts at 6.6%.
Euro downside cushioned after remarks from Kremlin spokesperson who said on Friday that Russia will not turn off gas supplies to Europe from April 1.
Support levels - 0.8409 (110-EMA), 0.8385 (21-EMA)
Resistance levels - 0.8435 (5-DMA), 0.8465 (200-DMA)
Summary: EUR/GBP pivotal at daily cloud and 110-EMA support, break below will drag the pair lower.
