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EUR/GBP sidelined below 0.73, UK data eyed

FXStreet (Edinburgh) - EUR/GBP is trading in a tight range ahead of the European open on Thursday, with both the single currency and the sterling trading in a flat mood for the time being.

EUR/GBP attention to UK releases

After yesterday’s sharp pullback, the cross is now looking to consolidate in the lower bound of the weekly range in the 0.7285/80 band, ahead of the UK calendar due later.

Market consensus sees UK Retail Sales expanding at a monthly pace of 0.2%, while sales excluding the Fuel component are expected at 0.1% MoM. Nothing worth mentioning data wise in Euroland, while the most salient event will be the FOMC gathering in the US.

EUR/GBP key levels

At the moment the cross is losing 0.02% at 0.7285 and a breach of 0.7275 (low Sep.17) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2).

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