- EUR/GBP meets with a fresh supply on Friday and trades just above the weekly low.
- The disappointing German macro data undermines the Euro and exerts some pressure.
- Traders now look to Lagarde’s speech for some impetus ahead of the Eurozone CPI.
The EUR/GBP cross attracts fresh sellers near the 200-hour Simple Moving Average (SMA) on Friday and stalls the overnight rebound from the 0.8630 area, or a one-week low. Spot prices remain depressed, around mid-0.8600s during the early European session, though the mixed fundamental backdrop warrants caution before positioning for an extension of this week’s rejection slide from the very important 200-day SMA.
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