EUR/GBP chart - Trading View
EUR/GBP was trading 0.19% lower on the day at 0.8693 at around 10:25 GMT.
The pair erased gains and edged lower from session highs at 0.8719, pausing a 4-day winning streak.
The single currency remains under pressure after German IFO Business Climate misses estimates.
German IFO Business Climate Index came in at 96.8 for April as against 97.8 estimated and compared to 96.6 prior.
On the other hand, upbeat outlook for the UK economy forecast by Bank of England Deputy Governor Ben Broadbent kept the pound buoyed.
EUR/GBP consolidates above 55-EMA as Europe's progress on vaccines and an upbeat market mood also keeps downside limited.
GMMA indicator shows major trend is neutral, while minor trend has turned bullish. The pair is on track to test 110-EMA at 0.8746.
