• EUR/GBP trades in a narrow range ahead of German GDP data, holds above 20-DMA support at 0.8545.
   
• The single currency remains under pressure following poor Eurozone consumer confidence data.
   
• Eurozone consumer confidence for Aug decreased by -0.6 points to -8.5, indicating that Europeans have lost quite some confidence this summer.
   
• Euro bears currently take a breather, EUR/GBP 0.11 pct higher on the day after 2 consecutive sessions of losses.
   
• Market focus now on the German final GDP report due ahead in the European session.
   
• Expectations are for German GDP to have remained unchanged q/q and y/y at 0.4 percent and 3.1 percent respectively.
   
• Miss on expectations could weigh on the pair, break below 20-DMA at 0.8545 could see a drag upto 0.8435 (rising trendline).