FxWirePro: EUR/GBP slips lower on upbeat UK GDP, breach at 200H MA support to see further weakness

EUR/GBP chart - Trading View 

EUR/GBP was traiding largely unchanged on the day at 0.9086 at around 09:45 GMT, bias is slightly bullish.

The British pound weighed by the lack of progress in Brexit talks and the discovery of a new covid variant in the UK. 

Tougher restrictive measures were declared across the UK and several countries around the world banned flights coming from the nation.

On the Brexit front, fisheries issues remain unsolved and significant gaps remain in talks. 

Meanwhile, the pound picks up fresh bids in reaction to the upbeat UK GDP numbers. UK final GDP was revised up to 16% QoQ in Q3 vs. 15.5% expected and 15.5% last.

On an annualized basis the figure stood at -8.6% vs. -9.6% expected and -9.6% seen previously. The Current Account numbers for Q3 came in at GBP-15.6 B versus GBP-11 B expected and GBP -2.8 B prior.

EUR/GBP slipped lower from session highs at 0.9132 and was hovering around 200H MA at 0.9086 at around 09:50 GMT.

Break below 200H MA will plummet prices further. Next major support lies at 5-DMA at 0.9055.