EUR/GBP depressed around 0.7600, German CPI eyed

EUR/GBP is navigating the lower bound of the recent range, hovering over 0.7590/0.7600 and posting marginal losses for the time being.

EUR/GBP attention to German CPI

The European cross keeps the trade near 3-month lows around 0.7550, following the recent sharp decline in the single currency in contrast with quite an abrupt pick up in the demand for the sterling.

Volatility is expected to remain scarce throughout the session following the public holidays in UK and US markets. Of note however, will be the release of the advanced CPI figures for the month of May in Germany and some sentiment gauges in the euro area, which could bring in some colour during the European morning.

EUR/GBP key levels

The cross is now losing 0.09% at 0.7595 and a breakdown of 0.7562 (low May 25) would expose 0.7529 (200-day sma) and finally 0.7310 (low Jan.5). On the other hand, the initial hurdle aligns at 0.7758 (high May 23) followed by 0.7792 (100-day sma) and then 0.7852 (55-day sma).