EUR/GBP extends the break below 0.8600, in session lows

The better sentiment around the Sterling has relegated EUR/GBP to trade in the lower end of the daily range so far around 0.8585/80 band.

EUR/GBP focus on data, risk trends

First day in red figures for the European cross so far this week, shedding some pips after being rejected from the vicinity of 0.8630 on Thursday in a context where the British pound is trading on a firmer note.

In the data space, EMU’s advanced GDP figures for the second quarter are due seconded by Industrial Production in the region, while US Retail Sales for the month of July are expected to drive the sentiment later in the NA session.

EUR/GBP key levels

The cross is now losing 0.12% at 0.8788 facing the initial support at 0.8440 (20-day sma) followed by 0.8383 (23.6% Fibo of 0.7595-0.8627) and then 0.8248 (low Jul.14). On the upside, a breakout of 0.8627 (2016 high Jul.6/Aug.11) would aim for 0.8651 (high Aug.28 2013).