FxWirePro: EUR/GBP slips lower as pound regains bids amid latest Brexit optimism
EUR/GBP chart - Trading View
A modest GBP uptick amid the latest optimism over Brexit talks drags EUR/GBP lower.
The pair was trading 0.28% lower on the day at 0.9015 at around 10:00 GMT after closing with a 'Doji' formation in the previous session.
Britain's chief negotiator David Frost said on Thursday that a Brexit agreement can be reached in September.
The next round of Brexit talks is set to commence in Brussels on August 18th and the two sides remain committed to reaching a deal.
On the data front, eurozone Q2 GDP printed inline with expectations at -12.1% QoQ during the April-June period and -15.0% on an annualized basis.
Additional data showed the Employment Change to contract 2.8% QoQ during the same period.
The pair struggles for direction as price action hovers around 21-EMA. Breakout of 'Symmetric Triangle' pattern will provide clear directional bias.
Support levels - 0.9013 (5-DMA), 0.8985 (Triangle base), 0.8923 (cloud base)
Resistance levels - 0.9040 (cloud top), 0.9085 (50% Fib), 0.9148 (Jul 27 high)