EUR/GBP chart - Trading View
EUR/GBP remains unfazed by upbeat UK Retail Sales data, extends previous session's gains.
The pair was trading 0.14% higher on the day at 0.9031 at around 08:40 GMT, bias is bullish.
Data released earlier today showed UK retail sales came in at +12.0% over the month in May vs. +5.7% expected and -18.1% previous.
The core retail sales stood at +10.2% MoM vs. +4.5% expected and -15.2% previous. On an annualized basis, the UK retail sales stood at -13.1%. Core retail sales also decreased -9.8%.
On the other side, the selling pressure around the single currency appears to have subsided. Focus in Europe will be on the EU Leaders Summit for further impetus.
EUR/GBP trades with a bullish technical bias. Momentum is bullish, volatility is rising and GMMA confirms bullish trend for near and far-term.
Scope for test of 61.8% Fib at 0.9183. Weakness only below 110-EMA at 0.8807.
