The single currency remains under pressure following poor Eurozone consumer confidence data.
Eurozone consumer confidence for Aug decreased by -0.6 points to -8.5, indicating that Europeans have lost quite some confidence this summer.
Euro bears currently take a breather, EUR/GBP 0.11 pct higher on the day after 2 consecutive sessions of losses.
Nothing of relevance from the UK docket today. Market focus now on the German final GDP report due ahead in the European session.
Expectations are for German GDP to have remained unchanged q/q and y/y at 0.4 percent and 3.1 percent respectively.
Miss on expectations could weigh on the pair, break below 20-DMA at 0.8545 could see a drag upto 0.8435 (rising ).
Good to short break below 0.8545, target 0.8490/ 0.8435. invalidation above 10-DMA at 0.8623