• EUR/GBP trades a narrow 25 pip range, markets now await UK prelim manufacturing and services PMI data.
   
• Prior month readings: manufacturing PMI at 52.1 in June, up from 50.1 in the previous month, while Services PMI fell to 52.3 in June from 53.5 the previous month.
   
• Surveys expect both results to retreat to sub-50 levels in response to expected higher uncertainty in the economy after the recent Brexit decision.
   
• The last time manufacturing PMI came in below the expansion threshold was in April 2016 (49.4), while the Services PMI posted sub-50 levels for the last time in December 2012 (48.9).
   
• Upbeat German PMIs to keep downside capped. Downside also finds strong trendline support at 0.8280 levels.
   
• Germany Markit PMI Composite above forecasts at 55.3 (consensus 53.7), Services PMI at 54.6 above forecasts of 53.2, Manufacturing PMI came in at 53.7, above forecasts of 53.5.