FxWirePro: EUR/GBP tests trendline resistance, outlook bullish

Chart - Courtesy Trading View 

EUR/GBP was trading 0.20% higher on the day at 0.8648 at around 13:15 GMT.

The pair is extending gains for the 4th straight session, outlook remains bullish.

Eurozone's Final Consumer Confidence Index printed at -23.6 in June vs. -23.6 prior, inline with forecasts.

The bloc’s Economic Sentiment Indicator for June dropped to 104.0 vs. 103.0 expected and 105.0 previous.  

Consumer inflation expectations, continued to decline, slipping to 42.6 in June from 45.5 in May.

German Harmonised Index of Consumer Prices (HICP), declined to 8.2% y/y in June's flash estimate from 8.7% in May, missing market expectation of 8.8%. On a monthly basis, HICP declined by 0.1%.

The annual Consumer Price Index (CPI) declined to 7.6% from 7.9% in the same period, compared to analysts' estimate of 8%.

EUR/GBP trades with a bullish bias. The pair is testing major trendline resistance at 0.8670. Break above will see gains till 200-week MA at 0.8461.